Wuxi's First QFLP Fund Settles in Xishan District
Release time:2021-08-11 Browse:

Recently, under the guidance of the Wuxi Municipal Financial Regulatory Bureau, the State Administration of Foreign Exchange Wuxi Branch and other departments, Wuxi Ruipu Haosheng Equity Investment Partnership (Limited Partnership) completed the registration process in Xidong New Town Business District and became the first QFLP fund in Wuxi, with a total size of 200 million US dollars. QFLP, namely Qualified Foreign Limited Partner, refers to investors of foreign institutions who convert foreign capital into RMB to invest in domestic PE and VC markets after passing the qualification examination and approval and supervision procedures for their foreign exchange funds. It is a system designed to break the restrictions on foreign investment access and capital account settlement, as well as a transitional measure adopted in the half-open capital market.


The Regulations on Foreign-invested Equity Investment Enterprise Pilots in Wuxi was jointly issued by the Wuxi Municipal Financial Regulatory Bureau, the Wuxi Market Supervision Administration and the People's Bank of China Wuxi Branch on June 10, and came into effect on July 10. Wuxi thus became the first comprehensive QFLP pilot city in Jiangsu Province which allows three models of "foreign capital managed by foreign capital", "domestic capital managing by foreign capital" and "foreign capital managing by domestic capital". The first QFLP fund in Wuxi, established by Redpoint China Ventures, mainly focuses on early private equity projects (including stock equities of unlisted companies set up and operated in China or importantly related to China) of telecommunications, science and technology and media industries (TMT) to conduct combinational investment of stock equities or stock equities-to-be. It will greatly support the development of related industrial projects in Xidong New Town. The successful implementation of the QFLP fund marked the leading position of Xishan District in the field of foreign-invested stock equities, created a new way for Wuxi to use foreign capital in an innovative way and opened up a new channel of investment for foreign-invested enterprises. At the same time, the founding of the QFLP fund was an obvious evidence of achievement of the building of a good investment environment, the development of high-quality industrial foundation and the innovation of working measures in recent years.


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