China WFOE rules constraining private funds business
Foreign asset managers under the QDLP scheme may be deterred from setting up private fund businesses in China because of constraints on cross-border investing and fundraising.
Foreign asset managers may decide against setting up or upgrading to an investment management wholly foreign-owned enterprise (IM WFOE) in China because of constraints on fundraising and on use of offshore electronic trading systems.
Alternative investment firms licensed under Shanghai’s qualified domestic limited partnership (QDLP) scheme must set up a new WFOE to run private funds onshore, as Beijing wants to see ring fencing between domestic and cross-border operations, noted G…
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