The British government has been advising China on how to set up a strong domestic private equity industry, the Financial Times reported. A UK Treasury official admitted that papers on tax and regulation have been passed from London to Beijing, while discussions have also taken place between senior UK buy-out executives and Chinese officials. Talks were initiated by the formation of the UK-China venture capital joint working group, which was launched in 2005. It is thought this relationship may give London the edge over New York as the two financial hubs battle to play a central role in China’s potentially lucrative private equity market. In another significant victory for the UK, the Boao Forum came to London on Tuesday for its first conference outside of Asia. The first day of the Boao Forum event will focus on private equity.
Please go to our May issue cover story for an analysis of China’s emerging private equity industry.
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