Forbes.com – The UK government is advising China on its private equity industry, with the Treasury passing papers on tax and regulation to Beijing, the Financial Times reported.
The newspaper said the move reflects London’s desire to gain a strategic advantage over the US in China, where private equity groups are eyeing investment opportunities.
‘We have pointed them in the right direction by passing on papers about a range of fiscal and regulation policies for private equity,’ the newspaper quoted a senior Treasury official as saying.
