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CN Expands Financial Asset Investment Firms’ Equity Scope to Pilot Cities’ Provinces
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China’s National Financial Regulatory Administration (NFRA) issued the "Notice on Further Expanding the Pilot Program for Equity Investments by Financial Asset Investment Companies", proposing to expand the equity investment scope of financial asset investment companies to the provinces where pilot cities are located. The Notice specified that related funds can conduct equity investments within the provinces of pilot cities, which is expected to broaden the scope of project support, attract more social capital to participate in fundraising, reduce operational costs, and enhance efficiency. China supports qualified commercial banks in establishing financial asset investment companies, the Notice said. So far, the five major commercial banks have set up such companies, which, through the pilot program, are exploring significant models for financial support of technological innovation. At the same time, the Notice supports insurance funds’ participation in the equity investment pilot program for financial asset investment companies. It explicitly encourages insurance funds to legally and compliantly invest in private equity funds issued by subsidiaries of financial asset investment companies, bonds issued by these companies, or take equity stakes in them. AAStocks Financial News |
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