China to optimise policies on cross-border funds for multinational firms

China will optimise policies on the centralised operation of cross-border funds in local and foreign currencies for multinational companies, the People's Bank of China (PBOC) said on Friday.

The country's central bank and forex regulator has decided to carry out pilot programmes in cities like Beijing and Shenzhen.

Multinational companies will be allowed to decide on their own the proportion of foreign debt and offshore lending in accordance with macro-prudential principles, PBOC said in a statement.