State Council releases high-level regulations for supervision of PE investment funds

Many of the rules in this document have been in place on a slightly less formal basis for years, so the State Council regulation itself won’t lead to major changes in how the industry functions, but it puts the industry on a firmer legal footing and carries more weight. The CSRC and the NDRC are expected to formulate significantly more detailed regulations and policies aimed at the industry in the near to medium-term…