Data & Intelligence
Private Capital Update from China
China’s economy has returned to growth in post-COVID-19 recovery, and the government is looking to harness renewed investor sentiment with regulatory updates designed to further open financial markets to international capital.
- Mainland Chinese regulators have approved updates to the Qualified Foreign Investor (QFI) program, streamlining the application process and expanding the asset classes available to international investors to include convertible bonds, non-performing loans, and mezzanine capital.
- While several domestic fund managers have raised China-focused mezzanine funds, EMPEA’s data indicates that they comprise only a small fraction of total private capital raised in China, suggesting new opportunities in a competitive landscape.
- Regulators have also simplified requirements for listing on the Shenzhen ChiNext Exchange, adopting a registration-based IPO system intended to encourage greater transparency and support smaller technology companies.
EMPEA member Clifford Chance shares additional insight into these recent developments and an update on Hong Kong regulations for an upcoming edition of the Legal & Regulatory Bulletin. Access an early copy of the Clifford Chance article by clicking on the “Read Article” button below.
Renuka Ramnath | Founder, Managing Director & Chief Executive Officer, Multiples Alternate Asset Management Private Limited
Brian Lim | Partner and Head of Asia and Emerging Markets, Pantheon Ventures
David Rubenstein | Co-Founder and Co-Executive Chairman, The Carlyle Group
Dr. Andrew Kuper | Founder and CEO, LeapFrog Investments
Torbjorn Caesar | Senior Partner, Actis
Drew Guff | Managing Director & Founding Partner, Siguler Guff & Company