Legislation roundup: Fund managers and new energy vehicles
August 18, 2016 | BY
Katherine Jo &clp articles &The CSRC has encouraged fund management subsidiaries to invest in PE and has set stricter rules for capital-guaranteed funds, and the MIIT has proposed higher requirements for alternative energy vehicle manufacturers
Capital Markets
China Securities Regulatory Commission, Provisions for the Administration of the Subsidiaries of Fund Management Companies (Draft for Comments)
A fund management company shall not hold less than 51% of the equity in a subsidiary. A subsidiary may not be the holding company for or control another enterprise except in the case of a special purpose vehicle established by a subsidiary as a fund management platform company for the purpose of engaging in private equity investment fund management business.
See the digest for more details.
Further reading
China Securities Regulatory Commission, Guiding Opinions on Capital-guaranteed Funds (Draft for Comments)
For a capital-guaranteed fund managed by a fund manager, the total amount derived by multiplying the capital guaranteed amount specified in the contract by the corresponding risk coefficient may not exceed five times (one time for insurance asset management companies) the fund manager's previous year's audited net assets.
Further reading
Transportation
Ministry of Industry and Information Technology, Provisions for the Administration of the Access Permission of Alternative Energy Vehicle Manufacturers and Their Products (Draft for Comments on Amendments)
The Draft places more stringent requirements on enterprises, with the requirements in respect of design and development capabilities, production capabilities, capacity to ensure product consistency, after-sales services and product safety assurance capabilities being more detailed and more stringent than those of the 2009 version.
See the digest for more details.
Further reading
Capital Markets
China Securities Regulatory Commission, Provisions for the Administration of the Subsidiaries of Fund Management Companies (Draft for Comments)
A fund management company shall not hold less than 51% of the equity in a subsidiary. A subsidiary may not be the holding company for or control another enterprise except in the case of a special purpose vehicle established by a subsidiary as a fund management platform company for the purpose of engaging in private equity investment fund management business.
See the digest for more details.
Further reading
China Securities Regulatory Commission, Guiding Opinions on Capital-guaranteed Funds (Draft for Comments)
For a capital-guaranteed fund managed by a fund manager, the total amount derived by multiplying the capital guaranteed amount specified in the contract by the corresponding risk coefficient may not exceed five times (one time for insurance asset management companies) the fund manager's previous year's audited net assets.
Further reading
Transportation
Ministry of Industry and Information Technology, Provisions for the Administration of the Access Permission of Alternative Energy Vehicle Manufacturers and Their Products (Draft for Comments on Amendments)
The Draft places more stringent requirements on enterprises, with the requirements in respect of design and development capabilities, production capabilities, capacity to ensure product consistency, after-sales services and product safety assurance capabilities being more detailed and more stringent than those of the 2009 version.
See the digest for more details.
Further reading
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