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....