QINGDAO, China, Oct. 30, 2021 /PRNewswire/ — At the 2021 China-SCO Countries Financial Cooperation and Capital Market Development Forum that opened in Jiaozhou, Qingdao on Oct 28, the China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation, which is located in the Jiaozhou Economic and Technological Development Zone, ushered in the first overseas investment fund.
The fund is the first QDLP fund under Qingdao’s Qualified Domestic Limited Partnership (QDLP) scheme. QDLP is a pilot program developed by Chinese local authorities for the purpose of facilitating cross-border asset allocation. It allows global asset managers to raise Renminbi from investors in China to invest in overseas traditional and alternative assets such as hedge funds, private equity funds, and REITs. Qingdao has been assigned a quota of US$ 3 billion for piloting the QDLP scheme.
The China-SCO local economic cooperation demonstration zone will run the fund in collaboration with Sino-Russian Energy Investment Private Equity Fund Management (Qingdao) Co Ltd. At the forum, it also signed agreements with Kazakhstan’s Astana International Financial Centre, CICC Capital and other domestic and overseas capital management organizations to launch cooperation in promoting cross-border capital flows.
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SOURCE Stadt Qingdao
