Lawyers in Shanghai expect new guidelines enabling foreign asset management firms to set up yuan-denominated hedge funds in the city to be finalised this month.
Rumours began circulating last week that the Shanghai Municipal Office of Finance Service (SFO) was set to allow global hedge funds to raise capital on the mainland, provided that such funds register in Shanghai and invest only in offshore asset classes.
The SFO is yet to officially announce the move and has declined to comment further on the matter....
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