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Shanghai to give foreign pvt equity ‘legal status’

Reuters – Shanghai has decided to let foreign investors, including private equity and venture capital funds, register legally as local equities investment firms as China’s financial hub moves to lure more overseas investment.

Foreign investors with a focus on Chinese equities can set up a Shanghai-registered entity with initial capital of 100 million yuan ($14.56 million) or more with the legal status of a local investment company and receive special tax treatment, according to a city government document dated Aug. 11 and obtained by Reuters on Friday.

Qualified foreign investors would include private equity funds, venture capital funds, buyout funds and hedge funds, it said.

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