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Foreign hedge funds may access China money soon - paper


Date: Wednesday, February 29, 2012
Author: Nishant Kumar, Reuters

China has decided in principle to allow foreign hedge funds to raise capital on the mainland, the South China Morning Post reported on Wednesday, a move that can potentially open up opportunities for the capital-starved Asian hedge fund industry.

Such funds will have to register in Shanghai and can invest only in markets outside the mainland, the report said citing unnamed sources.

The Shanghai Municipal Office of Finance Service has received guidelines from Chinese securities and foreign-exchange regulators that will allow foreign money managers to set up yuan-denominated hedge funds, the report said.

The Shanghai Municipal Office of Finance Service could not be immediately reached for comment.