China opens up to foreign enterprises

Author: | Published: 24 Apr 2017

The government is progressively loosening up relevant rules to allow foreign-owned enterprises to access China’s capital market, which has been tightly regulated until now

Much interest was raised following the announcement by Fidelity International that FIL Investment Management (Shanghai) Company Limited (FIL), its wholly-owned subsidiary in Shanghai, had, on January 3 2017, completed registration with the Asset Management Association of China (Amac), the industry self-regulatory body in charge of administering investment fund and fund manager registration, as a private securities investment fund manager. The significance of this event lies in the fact that FIL is the first wholly foreign-owned enterprise (WFOE) to have completed Amac registration as a private securities investment fund manager. By completing such a registration, FIL will be permitted to launch private securities investment funds in China, accept investments from qualified Chinese investors, and invest the proceeds in China's capital market. To the global asset management...


 

 

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