Attention! QFLP officially issued in China (Jiangsu) Pilot Free Trade Zone Nanjing Region!

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On July 8, Nanjing Municipal Bureau of Financial Supervision and Administration and Jiangbei New Area Administrative Committee jointly issued the Interim Measures for the Pilot Program of Qualified Foreign Limited Partners in China (Jiangsu) Pilot Free Trade Zone Nanjing Region to improve the level of financial opening up and boost the healthy development of foreign- invested enterprises in China (Jiangsu) Pilot Free Trade Zone Nanjing Region. 

QFLP stands for Qualified Foreign Limited Partner. The pilot program of QFLP is a rewarding measure to innovate the way of foreign investment. The Interim Measures set forth the general provisions, pilot conditions, pilot application, pilot operation, pilot management and supplementary provisions, and specify the investor qualification, investment scope, application process and management mechanism to present more open, convenient and market-oriented characteristics.

These Measures apply to domestic, foreign-owned or Sino-foreign joint venture fund management enterprises that have been registered with Asset Management Association of China (AMAC) as private equity fund manager. Qualified new private equity investment and venture capital fund management enterprises (including those that have been registered with AMAC but have not conducted initial fund raising and management yet) can apply for the pilot program.

The pilot areas include the China (Jiangsu) Pilot Free Trade Zone Nanjing Region and the Interactive Innovation and Development Zone. In principle, pilot fund management enterprises and pilot funds should be registered in the China (Jiangsu) Pilot Free Trade Zone Nanjing Region.

Compared with the cities that have implemented the QFLP pilot program, Nanjing has made broader and greater efforts in its QFLP pilot work to encourage and support the business model of fund management enterprises, the scope of overseas qualified investors, the investment direction of pilot funds and the management of pilot funds. These Measures not only further raise the level of financial opening up to the outside, but also provide a strong institutional support for the introduction of more international capitals in the construction of Nanjing innovative city. So far, a number of fund managers have planned to made pilot application.

Source: Nanjing Daily, Nanjing International(WeChat Official Account)