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Regulators Tighten Grip on China’s $2.9 Trillion Private Fund Industry

By Yue Yue, Zhang Yuzhe and Zhang Ziyu
2023年03月16日 21:38
New rules taking effect in May lift upfront capital requirements for companies and funds, blocking the entry for smaller outfits while helping some larger foreign firms
pictureOfficial new measures regulating China’s private funds, released on Feb. 24 and set to take effect in May, lowered some of the upfront capital requirements for establishing a fund set in a previous version.

While private fund investment in China has ballooned into a 20 trillion yuan ($2.9 trillion) beast, risks have grown, prompting authorities to curb the industry’s rampant growth.

The Asset Management Association of China (AMAC), a fund industry group overseen by the country’s top securities regulator, released new rules on Feb. 24 to tighten registration requirements for companies who seek to register as private fund managers (PFMs) and newly established privately offered funds. The rules will take effect on May 1, the association said.

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