QFLPQualified Foreign Limited Partnership (Chinese private equity)
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Tembusu's 80-20 joint-venture with a Guizhou state-owned entity is the first in the southwestern province to secure the QFLP license.
The QFLP status allows Tembusu to enjoy the benefits of the policy and greater access to onshore transactions as it expands its footprint in China.
The launch of Tembusu China Funds under the QFLP scheme will allow direct conversion of foreign capital into renminbi for investments in domestic Chinese companies.
As Goldjoy Holding has obtained the QFLP license, the Group plans to set up its first equity investment fund in Shenzhen in the second half of 2017 which will invest in intelligent manufacturing, biomedicine and other emerging industries for providing overseas investors with a channel to participate in equity investment in Mainland China.
The city of Shenzhen has allocated a QFLP license to the 50-50 joint venture fund that will enable overseas lenders to spend in private equity funds and venture capital funds domiciled in China.
With RMB13 million (US$2 million) in capital, the JV targets to focus China's high net worth individuals and institutional investors, along with providing investment opportunities to foreign investors via the QFLP framework.
Under the QFLP license, JP Morgan Asset Management can convert up to USD1bn in foreign investors' currency into yuan for private investment in and around Beijing.
The joint venture plans to explore business opportunities with high net worth and institutional investors in China and provide investment strategies to foreign investors through the QFLP framework.
Enhancing its ability to invest in China's expanding private industry, OCBC has set up a US$100 million private equity fund in the country under the Shanghai Qualified Foreign Limited Partner (QFLP) programme.
The move has made OCBC the maiden bank in Southeast Asia to have a QFLP license, which enables it to directly turn foreign capital into Renminbi and invest in local Chinese companies.