Blackstone shows promise of renminbi funds in Shanghai Pudong

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    clpstaff &clp articles

    New rules on foreign-invested private equity funds are proving popular

    Two foreign private equity firms have set up renminbi funds in Shanghai, less than two months after the promulgation of new rules by the Pudong New Area authority.

    The Pudong New Area of Shanghai Municipality, Trial Measures for the Establishment of Foreign-invested Equity Investment Management Enterprises (上海市浦东新区设立外商投资股权投资管理企业试行办法) were issued on June 2 2009, and remain effective until June 30 2010.

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