Private Equity and Venture Capital

New national regulations allow debt-for-equity swaps to be registered with AIC authorities. Their impact will be widespread

The Catalogue has been revised since the 2007 revision. Venture investment enterprises and intellectual property services are added to the encouraged category while the manufacture of assembled automobiles is removed from the category.

Private equity and venture capital funds are only allowed to target qualified investors that satisfy the requirements of new rules

Central government finances may directly invest in venture investment enterprises.

As one of China's preeminent fund formation hub cities, Tianjin is regarded by many industry participants as an influential barometer for other jurisdictions' private equity-related regulation. The city recently released new measures that enforce stricter supervision on a wide spectrum of fund formation, administrative and operation matters

New guidelines from China's banking authority open up stock index futures trading to trust companies. However, strict restrictions and stringent qualification criteria have drawn mixed reactions from trust players

First attempt to regulate private equity enterprises nationwide.

The Circular aims to further regulate the administration by record filing of equity investment enterprises in the pilot areas: Tianjin Binhai New Area, Beijing Zhongguancun Science and Technology Park, Wuhan East Lake New Technology Development Zone and the Yangtze Delta.

New circular provides detailed operational rules