CGNPC developed a sophisticated, geographically customised cash pooling structure, with Bank of China (Hong Kong) Limited, to address these challenges. The company established a Corporate Treasury Centre (CTC) in Hong Kong, a key financial hub without foreign exchange controls. This central account consolidates global funds, offering a unified control point for global cash management.

The company implemented regional sub-pools to manage specific geographic needs and a dedicated sub-pool in France ensures prompt fund transfers to European group companies within the same business day, addressing urgent funding needs and maintaining operational efficiency.

In regions with stringent foreign exchange controls, such as Malaysia, CGNPC established local cash pools to manage funds within the country, ensuring compliance with local regulations.

The initiative was led by CGNPC’s treasury management team, comprising over ten experienced specialists in account transactions, credit risk management, settlement and lending. These experts, proficient in diverse regulations and banking systems, were instrumental in designing and implementing the cash pooling strategies, ensuring compliance with local regulations and enhancing operational efficiency through effective cash management.

To further empower its group companies, CGNPC developed an internal online banking platform.

This centralised portal allows group companies to manage their accounts, view transaction histories, and submit fund requests independently. The platform’s comprehensive functionalities enable quicker decision-making and more responsive financial management across the group.