China crackdown affecting WFOE applications

The recent suspension of investment company registrations in China has sparked uncertainty around foreign asset managers’ moves to set up wholly foreign-owned enterprises (WFOEs) on the mainland.  The window for registration is not totally closed, but applications may prove more difficult than before, said Ge Yin, a Shanghai-based counsel at law firm Clifford Chance.   This follows a warning by Shanghai-based consultancy Z-Ben Advisors that tighter restrictions to govern WFOEs a…