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ARTICLE · 14 DECEMBER 2012

Shanghai Pilots The New RQFLP Program

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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Institutional investors satisfying certain criteria may directly remit RMB funds raised overseas to Shanghai to set up private equity funds.

NetherlandsFinance and Banking
Geert Potjewijd
Geert Potjewijd
Diederik Maessen
Diederik Maessen
Renee Xu
Renee Xu
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Institutional investors satisfying certain criteria may directly remit RMB funds raised overseas to Shanghai to set up private equity funds for private equity investments under the pilot RMB Qualified Foreign Limited Partner ("RQFLP") program.

Detailed implementing rules are yet to be formulated, but the RQFLP pilot program will be based on the Qualified Foreign Limited Partner ("QFLP") and the RMB Qualified Foreign Institutional Investor ("RQFII") programs. Some notable differences do exist:

  • Use of offshore RMB: unlike the QFLP program, qualified foreign limited partners under the RQFLP program may use offshore RMB as opposed to foreign currency to set up private equity funds in China.

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