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CHINA / SOCIETY
By Global Times Published: May 25, 2021 06:11 PM
Photo: ICShanghai is dedicated to further opening up two-way financial investment with multiple measures like further promoting the Qualified Foreign Limited Partner (QFLP) and Qualified Domestic Limited Partner (QDLP) pilot programs, in an effort to accelerate building the city into a global asset management center, according to a document released by the local government on Tuesday.
The city will promote foreign institutions to participate in the QFLP pilot program to manage domestic yuan funds and encourage qualified domestic institutions to become involved in the program.
Under the scheme, QFLP pilot institutions will be encouraged to carry out investment in multiple sectors including domestic non-listed company equity, private placement and mezzanine funds of listed companies and venture capital funds.
In this round-up, the Chinese economy rebounds at a fast pace from a year ago when the Covid-19 pandemic hit, regulators vow to manage hidden debt risks at local governments, and two existing shareholders agree to pump $250m into Luckin Coffee.
Hainan to be focal point of reforms By SHI JING in Shanghai and OUYANG SHIJIA in Beijing | CHINA DAILY | Updated: 2021-04-10 07:06 A view of Sanya Bay in Hainan province. [Photo provided to chinadaily.com.cn]
Guideline sets out 33 detailed measures to further facilitate free trade on island
The central government on Friday launched a series of financial measures to turn Hainan Free Trade Port into a focal point of China s deepened reforms, showing the nation s latest efforts to further open up to the world, said experts.
The People s Bank of China, together with three other top financial regulators, released on Friday a guideline with 33 detailed measures, which are set to further facilitate free trade in Hainan, perfect its financial market system, further open up its financial market, enhance innovation, improve financial services and strengthen financial regulation.
The central government on Friday launched a series of financial measures to turn Hainan Free Trade Port into a focal point of China s deepened reforms, showing the nation s latest efforts to further open up to the world, said experts.
The People s Bank of China, together with three other top financial regulators, released on Friday a guideline with 33 detailed measures, which are set to further facilitate free trade in Hainan, perfect its financial market system, further open up its financial market, enhance innovation, improve financial services and strengthen financial regulation.
The guideline will also help to strengthen Hainan s weak links and consolidate its financial base, the central bank said on its official website.