Ministry of Commerce: Support multinational companies with investment or registration in the local area to conduct cross-border fund concentration operations in RMB.

Recently, the Ministry of Commerce issued the "Comprehensive Plan for Accelerating the Pilot Program for the Expansion of the Service Industry", which mentions promoting international cooperation in the financial sector. It emphasizes the orderly expansion of the business scope of financial institutions, increasing support for technological innovation and the development of small and medium-sized enterprises, enhancing the facilitation of capital and financial account transactions in international balance of payments, supporting multinational companies with investments or registrations in the local area to conduct cross-border fund concentration operations in Renminbi. It will deepen the Qualified Foreign Limited Partner (QFLP) pilot program, innovate and develop new offshore international trade, promote green finance and transformation finance, and strengthen international cooperation in green finance. The original text is from the "Ministry of Commerce official website", edited by: Xu Wenqiang, GMTEight.