Taking China's Asset Management to the Next Level

中国资产管理行业进入新阶段

December 20, 2018 | BY

Susan Mok

Catherine Chen of Zhong Lun Law Firm discusses the recent developments affectingChina's investment fund schemes and private investment funds, the key compliancerequirements when advising on investment funds, how China's opening up of its financialmarkets affects hedge fund investment and the outlook for investment funds in 2019 中伦律师事务所的陈芳律师讨论了影响中国投资基金体系特别是私募投资基金的最新发展，提供投资基金法律服务时的主要合规要求，中国开放金融市场如何影响对冲基金投资，以及投资基金在2019年的前景

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1 . WHAT ARE THE LATEST REGULATORY DEVELOPMENTS AFFECTING INVESTMENT FUND SCHEMES IN CHINA?

The latest regulatory development having a relatively major effect on private funds recently is the Guiding Opinions on Regulating the Asset Management Business of Financial Institutions (the New Rules) jointly issued by the People's Bank of China, the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission (CSRC) and the State Administration of Foreign Exchange on April 27, 2018.

The New Rules mainly apply to financial institutions such as banks, trusts, securities companies, futures companies,