Jury still out on Shanghai RMB QFLP program
The reported approval by China's State Administration of Foreign Exchange (SAFE) of a $3 billion quota for the Shanghai municipal government to allow foreign currencies to be converted into RMB for investing into local private equity funds has been hailed by some as another significant milestone in the development of the Mainland’s private equity ecosystem.
But this not unexpected preparation for the full rollout of the Qualified Foreign Limited Partner (QFLP) scheme, designed to allow foreign LPs to invest directly into domestic Chinese private equity funds,...
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