From Regulations to Revelations: 2023's Legal and Industry Shifts in China's PE Funds

February 19, 2024 | BY

Susan Mok

Tang Xue of Haiwen & Partners outlines the key regulatory developments which affected China's private equity funds market in 2023, which was a busy and landmark year

2023 stood out as a regulatory landmark period for China's private equity ("PE") funds sector, marked by significant regulatory advancements. Highlighting the year's landmark significance was the enactment of the Regulations on the Supervision and Administration of Private Investment Funds (the "Private Funds Regulations") (私募投资基金监督管理条例), the first administrative regulation and the highest level of legislation tailored specifically for the private investment funds (the "Private Funds") sector in China. This regulatory milestone, underscored by a series of supporting and complementary regulations issued by various government departments throughout the year, sets a new era of structured growth and enhanced oversight.

Over recent years, the PE fund industry in China has undergone remarkable growth, evolving from a specialized niche sector into a crucial component of the asset management industry

I .   Throughout 2023: The Evolution of Regulatory Shifts in China's PE Funds

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