• New NDRC Proclamation Renders Some RMB Funds and the QFLP Pilot Program Unattractive to Foreign GPs and LPs
  • May 24, 2012
  • Law Firm: Cadwalader, Wickersham & Taft LLP - Hong Kong Office
  • On April 23, 2012, the National Development and Reform Commission (“NDRC”), China’s national agency for economic planning, made an announcement uniformly clarifying its policy with respect to RMB-denominated funds (“RMB Funds”) that contain foreign-sourced RMB as investment capital.