In August 2001, China released foreign investment rules intended to encourage foreign sponsors to form China-based venture capital funds. These rules (the 2001 Rules) imposed many non-market restrictions on fund formation and operation and were not successful in attracting investors to China.
China's Revised Venture Capital Rules: Limited Partnerships with Chinese Characteristics?
Rules on foreign-invested venture capital enterprises were promulgated in 2001, but fell considerably short of expectations. New rules in this important area have recently been issued. Have they overcome the limitations of the prior rules?
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