Last month, the State Administration of Foreign Exchange (SAFE)  published (in Chinese) a question and answer session  regarding rules for foreign currency cash pooling. The Q&A answered 39 questions that multinationals had asked about implementing foreign currency pooling in China. 

The Q&A clarified several issues, e.g. the master account in a pool must be opened at banks located in the province, or province-level municipalities, of the location of the hosting company. 

Full details of the TRANSLATED Q&A are available from CorporateTreasurer - see.