China’s financial regulators are reinstating a programme that allows global asset managers to invest in offshore hedge funds using capital raised from mainland Chinese clients, the Financial Times reports, after suspending the programme for two years.
The move suggests that regulators are becoming more casual to cross-border capital flows, at a time when government officials are emphasising China’s commitment to opening up its economy to foreign money.
One of the earliest participants in the programme’s revival is JPMorgan Asset Management, which was granted a $50 million quota and expected to be followed by other big Western banks, keen for greater access to the Chinese market.
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