PE Given Green Light In China, But Changes Favour Local Funds

The Chinese government may well have rolled out the welcome mat for the private equity industry by permitting the operation of PE funds that use the yuan, instead of the dollar, but for overseas-run funds very little appears to have changed. Indeed, the playing field is still uneven: regulation remains largely protectionist in nature, treating foreign-run yuan funds differently than local funds, giving the latter a clear advantage.

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