On November 3, the reporter learned from the press conference held by Information Office of Shenyang People's Government, The Interim Procedures for the Pilot Administration of Foreign-invested Equity Investment Enterprises in Shenyang Area of China (Liaoning) Pilot Free Trade Zone jointly issued by the Management Committee of Shenyang Area of China (Liaoning) Pilot Free Trade Zone, Shenyang Municipal Financial Development Bureau and Shenyang Municipal Market Supervision and Administration Bureau was officially promulgated.

The Measures will promote the pilot work of QFLP (Qualified Foreign Limited Partners) and highlight the leading role of financial innovation in Shenyang Area of China (Liaoning) Pilot Free Trade Zone.

Yu Boyang, Deputy Director of the Management Committee of Shenyang Area of China (Liaoning) Pilot Free Trade Zone introduced:"At present, Shenyang Area of China (Liaoning) Pilot Free Trade Zone has introduced China Everbright Ltd, set up Light Control (Liaoning) Industrial Investment Fund Management Company through the pilot work of QFLP. It has become the first qualified foreign limited partner (QFLP) fund management company in Northeast China. It is establishing the first QFLP fund in Northeast China, and planning to raise about CNY 10 billion to guide quality overseas strategic capital to invest and support the development of the core industries (high-end manufacturing industry, intelligent equipment industry, and information technology industry) of Liaoning with QFLP mode."

Expanding the scope of QFLP managers

▲ The Measures allows "foreign fund managers" to manage "foreign funds" and "Domestic funds", and allows eligible "domestic fund managers" to participate in the QFLP pilot and manage "foreign funds";

Lowering the entry threshold

▲ The Measures no longer sets minimum registered capital restriction in accordance with other regional policies, and will focus on standardizing the sources of foreign capital, qualifications of shareholders and partners, qualifications of senior executives, and qualifications of domestic and foreign investors as limited partners.

Establishing the mechanism for sharing regulatory information

▲ The Measures clarifies reviewing the qualifications of pilot enterprises with the joint meeting system. The Management Committee of Shenyang Area of China (Liaoning) Pilot Free Trade Zone is responsible for organizing and holding joint meetings, coordinating the relevant departments, and establishing the mechanism for sharing regulatory information;

Optimizing the relevant process of the pilot work

▲ The Measures clarifies the matters of registration, change, profit distribution, liquidation, divestment, and withdrawal of enterprises, simplifies the relevant procedures, relaxes the relevant conditions, further optimizes the business environment in terms of permission for foreign investment, and facilitates the pilot application and practical operation for enterprises.

(Zhao Guoqing, Wang Guan)