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China’s launches fund program to allow foreign investors subscribe WFOE PFM through QFII/RQFII in Shanghai

作者:admin 2020-12-17

China’s launches fund program to allow foreign investors subscribe WFOE PFM through QFII/RQFII in Shanghai

Photo taken on March 3, 2020 shows US dollar banknotes in Washington D.C., the United States.(Xinhua/Liu Jie)





A new fund program that allows foreign investors to subscribe for wholly foreign owned enterprise private fund manager (WFOE PFM) through QFII/RQFII has been launched in Shanghai on Tuesday, as China further opens up its financial sector.

Baring China Comprehensive Bond No. 1 Private Securities Investment Fund issued by Baring Investment Management (Shanghai) Co has become the first kind nationwide to allow foreign investors to subscribe WFOE PFM through QFII/RQFII.

This comes after China Securities Regulatory Commission, the People's Bank of China, and the State Administration of Foreign Exchange issued the Measures allowing QFII/RQFII to invest in domestic private equity investment funds in September.

The measure was extended by the Shanghai Local Financial Supervision and Administration Bureau to WFOE PFM after seeing the positive impact of the new measure on WFOE PFM institutions in Shanghai. 

The move signalized that China is expanding its scale of opening up, Xi Junyang, a professor at the Shanghai University of Finance and Economics told the Global Times on Wednesday.

"The new program has further expanded the scope of investment for QFII and it has a positive effect on attracting foreign funds to participate in domestic investment market through QFII," Xi said.

Baring Overseas Investment Fund Management (Shanghai) is the fifth batch of Qualified Domestic Limited Partners (QDLP) pilot institutions in Shanghai and issued QDLP products in January 2019. 

Baring Investment Management (Shanghai) Co. was registered as a WFOE PFM in June 2019, and began issuing domestic private equity fund products in November of the same year

Global Times 



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