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.

EMPEA represents the leading global investors in EM. I look forward to working alongside to drive much-needed capital for financing entrepreneurs and businesses worldwide.

Renuka Ramnath | Founder, Managing Director & Chief Executive Officer, Multiples Alternate Asset Management Private Limited

EMPEA plays an important and energetic role across the markets it represents, driving outreach and research initiatives, and promoting the role of private capital.

Brian Lim | Partner and Head of Asia and Emerging Markets, Pantheon Ventures

The developed markets have no equivalent to the role EMPEA is playing as a convener and source of trusted information in the emerging markets.

David Rubenstein | Co-Founder and Co-Executive Chairman, The Carlyle Group

I’m honored to join fellow industry pioneers in the leadership of an unparalleled network, filled with first movers, shaping the future of industries and communities.

Dr. Andrew Kuper | Founder and CEO, LeapFrog Investments

EMPEA's market and industry intelligence opens doors to new sources of capital.  I look forward to the future success of EMPEA and its members.

Torbjorn Caesar | Senior Partner, Actis

While there are certainly challenges for the industry, the opportunities abound in our target markets and globally, making a global association like EMPEA more relevant than ever.

Drew Guff | Managing Director & Founding Partner, Siguler Guff & Company