Global private funds poised to enter China market
全球私募基金已准备好进入中国市场
August 06, 2016 | BY
Katherine Jo &clp articlesWholly foreign-owned firms, JVs have been permitted to apply for domestic private investment fund licenses. 外国全资公司、合资公司获准申请国内私募投资基金许可执照。
In a major move to ease access to China's financial sector and internationalize its currency, the nation has allowed wholly foreign-owned enterprises (WFOEs) and foreign joint ventures (JVs) to apply for domestic private investment fund licenses.
The change, which will enable the overseas entities to set up asset management services in China and put money into local capital markets, was first announced in a brief June 30 statement by the China Securities Regulatory Commission (CSRC). It was supplemented later that day with a more detailed Q&A on the filing procedures released by the Asset Management Association of China (AMAC), the Questions and Answers Concerning Registration and Record Filing of Private Funds (10).
“This is a very critical breakthrough for investment and trading on China's secondary securities market as it comes after years of discussion among industry stakeholders and regulators on amending vague entry regulations,” said James Wang, an investment funds partner at Han Kun Law Offices in Beijing.
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