China Private Equity Fund approval of decentralization
GUANGZHOU (Fund China) - Subsided for a few months, China Private Equity Fund have called the Industrial Investment Fund, in early November to become active again.
The National Development and Reform Commission (NDRC), People’s Republic of China first approved in the end of 2006 to set up the Bohai Industrial Investment Fund , in this year’s early November made a first investment in two other projects have also made substantial gains. This year has approved the second installment of Industrial Investment Fund ( Suzhou New High-Tech Industrial Investment Fund, Shanghai Financial Fund, Shanxi Energy Fund and Guangdong Nuclear Fund, Sichuan Mianyang High-Tech Industrial Fund), also ran in selected fund managers, funds the form has been gaining momentum.
More importantly, the Industrial Investment Fund to explore the policy also made remarkable progress.
After consent of the State Council of China, led by the NDRC, including the People’s Bank of China, China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission (CSRC) and China Insurance Regulatory Commission (CIRC), the Ministry of Commerce and State Council Legislative Affairs Office of the seven departments has been set up Industrial Investment Fund pilot steering group is developing Industrial Investment Fund pilot overall program.
Reporters noted that if the package is approved by the State Council, the Industrial Investment Fund with the approval of the audit will be responsible for the team, no longer submitted to the State Council examined and approved.
It is learned that many securities companies, insurance companies, investment sector of banks are interested in the fund managers of Industrial Investment Fund, but that the pilot approach in the circumstances, they need to obtain the consent of their respective regulatory authorities.
It is learned that while some commercial banks are allowed to become shareholders for the Industrial Investment Fund for the State Department granted the land.
Copyright Fund China 2008.
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