By: Yi Zhang, King & Wood’s Securities & Capital Markets Group
Introduction
Legislative research on industrial investment funds started in early 2000. Since the official administrative regulations regarding such funds have not yet been publicly released, the government has been concurrently implementing pilot projects and draft administrative regulations on the subject.
During the pilot period, the National Development and Reform Commission (NDRC) drafted the Administrative Regulations on Industrial Investment Funds, later changing the name to the Administrative Regulations on Private Equity Funds in order to make them applicable to the entire private equity fund industry.