Jul 2012, Issue 2
Hengqin New Area aims to be a regional hub for equity investment funds (including private equity funds)
Hengqin New Area is a new State-level economic development district situated in Southeast China, accessible to macao via the Lotus Bridge. It is designated by the Chinese State Council in year 2011 to be a regional high-tech and tertiary industries hub in the Pearl River Delta.
At the end of May 2012, the administrative committee of Hengqin New Area has taken its first step to develop the financial services industry which is one of the key focused industries under its development plan. The Committee released two policy papers for the launch of a pilot program for equity investment fund industry (including private equity funds), namely the (Pilot measures to encourage the development of equity investment fund enterprises and equity investment fund management enterprises in Zhuhai Hengqin New Area) (the "Pilot Measures") and (Implementation measures to promote the development of equity investment fund industry in Hengqin New Area) (the "Implementation Measures").
In this Issue of China FS Tax News Flash, we would share with you the salient points of the two policy papers along with our insights and observations.
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