Caixin
Jul 18, 2022 08:29 PM
FINANCE

China Private Investment Fund Regulations Stuck in Limbo for Another Year

The sector has been expanding rapidly in the past few years, but a comprehensive cabinet-level legal framework is lacking, making it challenging to root out problems in the sector such as illegal fundraising. Photo: VCG
The sector has been expanding rapidly in the past few years, but a comprehensive cabinet-level legal framework is lacking, making it challenging to root out problems in the sector such as illegal fundraising. Photo: VCG

Proposed rules that would fill a regulatory gap overseeing China’s 20 trillion yuan ($3 trillion) private investment fund industry didn’t make it onto the State Council’s annual legislative work plan for the first time in nine years, keeping the sector mired in legislative limbo for another year.

The regulations are expected to effectively address issues in the sector and set up a regulatory framework at the level of the State Council, the country’s cabinet. But they didn’t appear on the legislative work plan issued on Thursday.

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