Yi Gang: Expand The Scope Of Foreign Exchange Capital Management Pilot

< p > next month, the State Administration of foreign exchange will further expand the multinational corporations' headquarters foreign exchange < a href= "//www.sjfzxm.com/news/index_cj.asp" > capital management < /a > pilot area, and strive to build pnational corporations cash management center and financial management center.

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P, vice president of the people's Bank of China and Yi Gang, director of the State Administration of foreign affairs, disclosed the above information at the global financial forum of Peking University in 2014 May 17th.

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"P" Yi Gang said that as of March this year, the scope of the pilot has been extended to 12 provinces and cities nationwide, including 73 state-owned enterprises, private enterprises and foreign investment enterprises, and 12 banks.

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< p > recently, Yi Gang has conducted a pilot project of centralized operation and management of foreign exchange funds at a headquarters of a multinational company in Qianhai.

Combined with this pilot, he said that China is a big trading country and a big manufacturing country, but it has never been a financial center.

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< p > a major reason why the headquarters of multinational corporations can not operate in China is foreign exchange management, because multinational corporations have branches in all districts. The State Administration of foreign exchange requires capital items to be done locally, so that multinational corporations can not centrally manage the < a href= "http:// www.sjfzxm.com/news/index_cj.asp" > capital < /a >.

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< p > for this reason, the above-mentioned pilot was carried out by the state "a href=" //www.sjfzxm.com/news/index_cj.asp "and" safe "/a.

This will greatly save the cost of multinational companies and reduce the number of exchanges between the two countries. Both foreign currency and Renminbi can be used, and the head office can redeploy them.

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< p > Yi Gang said that the pilot has been carried out for a period of time and achieved fairly good results. Samsung, Alibaba and TCL have saved 15 million yuan, 35 million yuan and 17 million yuan respectively.

At the same time, the economic effect of headquarters has gradually emerged. Samsung Corp has established a regional settlement center in China. Schneider Electric has set up fourth regional headquarters in China.

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"P" Yi Gang concluded that why this reform is very difficult, because such a reform is to change its own life, reduce its own power, and do a lot of ideological work.

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< p > can the financial regulatory authorities solve the problem of deregulation and strengthen supervision and make it possible for them to change themselves? Can they keep pace with the situation of China's reform and opening up and do well step by step in the bottom line of financial risks?

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