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ARTICLE · 15 JANUARY 2013

Shanghai Launches New RQFLP Programme

Mayer Brown
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Shanghai quietly launched a new pilot programme, RMB Qualified Foreign Limited Partner (RQFLP), towards the end of 2012 to permit qualified foreign fund managers and asset management companies to raise offshore RMB from offshore investors to invest in RMB private equity funds set up in Shanghai.

ChinaFinance and Banking
Yong Ren
Yong Ren
Joyce Sun
Joyce Sun
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Keywords: Shanghai, RMB Qualified Foreign Limited Partner, RQFLP, private equity funds

Overview

Shanghai quietly launched a new pilot programme, RMB Qualified Foreign Limited Partner (RQFLP), towards the end of 2012 to permit qualified foreign fund managers and asset management companies to raise offshore RMB from offshore investors to invest in RMB private equity funds set up in Shanghai.

The RQFLP pilot programme is deemed to be an extension of Shanghai's Qualified Foreign Limited Partner (QFLP) programme, effected in 2011, which allows qualified foreign invested private equity funds and fund management companies to convert their own foreign currency capital and foreign currency capital raised from other foreign investors into RMB for capital contributions to RMB private equity funds (see our Legal Update, RMB Funds - QFLP Pilot Programs - An Update, issued on 12 May 2011).

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