Ren, Yong

Alternative Private Equity Fund Models

Tue, 03 Jul 2012 04:08:21 GMT

There appears to be no shortage of potential fund managers interested in launching a private equity fund and equally there appears to be no shortage of investors interested to participate in private equity style investing. So why is it often so difficult for potential fund managers to raise and close private equity funds?

Alternative Private Equity Fund Models

Fri, 28 Sep 2012 01:44:56 GMT

Bylined article by Hong Kong Corporate & Securities partner Phill Smith and Registered Foreign Consultant (New York, USA) Yong Ren discussing issues with traditional private equity models and offering alternatives for fund managers to raise and close private equity funds.

China's insurance industry cleared for offshore PE

Thu, 01 Nov 2012 03:28:40 GMT

The China Insurance Regulatory Commission (CIRC) has released regulations that allow Chinese insurance companies to invest in private equity in 45 countries and regions, according to Corporate & Securities partner Yong Ren.

CIRC Relaxes Restrictions on Permitted Investments by Insurance Companies

Mon, 20 Aug 2012 08:32:06 GMT

The China Insurance Regulatory Commission (CIRC) issued the Circular on Issues relating to Investment of Insurance Funds in Equity and Real Estate (the 2012 Circular) on 16 July 2012 and has issued two other rules, all of which facilitate a more diversified range of investment options for insurance companies.

CSRC Amends Securities Investment Fund Regulations

Fri, 29 Jun 2012 08:50:22 GMT

On 20 June 2012, China Securities Regulatory Commission (CSRC) amended the Measures for the Administration of Securities Investment Fund Operations (证券投资基金运作管理办法）(the Measures).

CSRC’s Fresh Efforts to Make Life Easier for a QFII

Mon, 13 Aug 2012 06:12:45 GMT

The China Securities Regulatory Commission (CSRC) issued the Rules on Issues Concerning Implementation of the Measures for Administration of Domestic Securities Investment by Qualified Foreign Institutional Investors (the Implementing Rules) on 27 July 2012.

Experts dismiss back-office shift to Shenzhen

Wed, 25 Jul 2012 08:39:26 GMT

Corporate & Securities partner Yong Ren (New York) quoted on moving Hong Kong asset managers' back-office operations to Shenzhen, China.

Proposed Changes in PRC Law Impacting on Fund Managers

Tue, 31 Jul 2012 10:18:27 GMT

This update describes two recent PRC legal developments: the amendments proposed to be made to the Securities Investment Funds Law and the possible introduction of a qualified domestic limited partner (QDLP) scheme in Shanghai.

SAFE Issues Circulars to Regulate Forex Controls over Foreign Invested Partnerships and Direct Investments

Wed, 19 Dec 2012 08:38:54 GMT

On 19 November 2012, the State Administration of Foreign Exchange (SAFE) issued two new circulars: (i) Circular on Relevant Issues Regarding Administration of Foreign Exchange for Foreign Invested Partnership (Circular 58); and (ii) Circular on Further Adjustments to Measures for the Administration of Foreign Exchange for Direct Investment (Circular 59). These circulars, both of which came into effect on 17 December 2012, were issued in order to standardise and simplify foreign exchange (Forex) related administrative approvals, and to downscale pre-approvals for routine operations.

Shanghai Launches New RQFLP Programme

Mon, 14 Jan 2013 08:19:28 GMT

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 programme, as part of the Chinese government's general efforts to promote the internationalisation of the RMB, will assist in increasing the channels for offshore RMB to flow back into China and in increasing investment opportunities for investors holding RMB offshore. It also has the potential to provide an additional capital source for private equity funds in China although, in the near term, the impact of the programme on the private equity industry in China may be limited.