FINANCE

China Tightens Disclosure Rules for Private Funds

Published: Jun. 10, 2026 2:56 a.m. GMT+8

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On June 9, the Asset Management Association of China released detailed rules on information disclosure for private investment funds, which will take effect on September 1. Photo: VCG

China’s asset management regulator has issued finalized information disclosure rules for private investment funds, mandating greater transparency for complex structures like nested products and cross-border investments.

The new framework, taking effect Sept. 1, marks the latest effort by authorities to mitigate risks in the country’s sprawling private fund sector by forcing managers to look through opaque investment layers while streamlining routine reporting obligations.

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New private fund rules effective Sept. 1 mandate look-through transparency for nested products and cross-border investments, including strict disclosure for funds investing >90% in a single fund.
Offshore investments must disclose scale, methods, and routing paths; private equity fund-of-funds must detail underlying investment names, costs, and book values.
Rules ease some burdens (quarterly NAV for closed-end funds, annual audit threshold shifted to year-end) while expanding ad-hoc reporting until fund liquidation is complete.

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What Happened When

March 2026：: An earlier draft of the rules was released.

Before Sept. 1, 2026：: China's asset management regulator issued finalized information disclosure rules for private investment funds, mandating greater transparency for complex structures like nested products and cross-border investments.