Asset Management Association of China, Guidelines for the Administration of the Record Filing of the Private Asset Management Plans of Securities and Futures Firms No.4: Investment by Private Asset Management Plans in Real Property Developers and Projects

(3) acquisition of the right to benefit from a trust or other assets;

(4) acquisition of equity in real property developers nominally by means of equity but actually by means of debt; and

(5) other debt investment methods determined by the Asset Management Association of China based on the principle of prudent regulation (Article 1).

Issued: February 14 2017

Main contents: Provisionally, record filing shall not be granted for investments by private asset management plans established by securities and futures business firms in ordinary housing real property projects in key cities where the price of real property is increasing excessively quickly (currently including the 16 cities of Beijing, Shanghai, Guangzhou, Shenzhen, Xiamen, Hefei, Nanjing, Suzhou, Wuxi, Hangzhou, Tianjin, Fuzhou, Wuhan, Zhengzhou, Jinan and Chengdu), including but not limited to by means of the following methods:

(1) entrusted loans;

(2) nested investment trust plans and other financial products;

(3) acquisition of the right to benefit from a trust or other assets;

(4) acquisition of equity in real property developers nominally by means of equity but actually by means of debt; and

(5) other debt investment methods determined by the Asset Management Association of China based on the principle of prudent regulation (Article 1).