Lin-gang Special Area signs deals with QFLPs at Lujiazui Forum
The Lin-gang Special Area Administration signed cooperative memorandums with seven QFLP (Qualified Foreign Limited Partner) pilot management enterprises at the 14th Lujiazui Forum in Shanghai on June 8.
The agreements will see the involved parties leverage their respective domain expertise to foster synergistic growth and propel the internationalization of Lin-gang's burgeoning financial industry.
An increasing number of overseas entities have been turning their focus to China's private equity market in recent years. Notably, more than 80 internationally renowned asset management institutions have already participated in Shanghai's QFLP pilot initiative.
To promote the healthy development of cross-border equity fund investments and streamline cross-border investment and financing in Shanghai, the QFLP program's foreign exchange management policies are being continually expanded.
In February, the Shanghai branch of the State Administration of Foreign Exchange issued a notification to expand the coverage of the QFLP pilot's foreign exchange management policies from the Lin-gang Special Area to encompass all of Shanghai's jurisdiction. This expansion serves as additional support for cross-border investments in equity funds and will help facilitate their growth.
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