9 December 2011
Following Shanghai and Beijing, Tianjin has become the third municipality promulgating local legislation to launch its own pilot programme to promote private equity investments. Qualified foreign-invested private equity funds and foreign-invested equity management institutions will enjoy an exemption from foreign exchange control over equity investment. A foreign-invested fund invested by qualified foreign limited partners (QFLPs) will be able to convert foreign currency into RMB for private equity investments subject to a specified quota. This briefing provides an overview of the Tianjin pilot programme, illustrating the criteria for attaining the status of a QFLP, pilot enterprise and approved manager as well as discusses the existing foreign exchange settlement restrictions. The briefing also provides a helpful comparison of these Tianjin rules with those under similar pilot programmes in Shanghai and Beijing.
Tianjin launched pilot programme for foreign-invested private equity investment