Private equity and venture capital firms are not allowed to invest in public-offered funds, the National Development and Reform Commission said.
In February, the China Securities Regulatory Commission released a rule stating that PE and VC firms can apply for fund management businesses, which may be implemented on June 1.
The NDRC also said that a fund between 100 million yuan ($15.92 million) and 500 million yuan should be registered with provincial departments, while a fund larger than 500 million yuan should be registered with provincial departments and then be presented to the NDRC.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.