Jiuding Capital Completed Filing in the NDRC
According to PEdaily.cn news on April 27th, recently Department of Fiscal and Financial Affair, National Development and Reform Commission announced that another four equity investment companies completed filings after the promulgation of Notice on Further Regulating Development and Filing Administration of Equity Investment Companies in Pilot Regions (“Notice”).
These four companies are Primavera (Tianjin) Equity Investment Partnership Company, corresponded by the management institute Primavera (Tianjin) Equity Investment Management Co., Ltd.; Beijing DT Advantage Investment Center (Limited Partners), corresponded by the management institute DT (Beijing) Investment Management Co., Ltd.; Beijing Jiuding Pharmaceutical Investment Center (Limited Partners), corresponded by the management institute Jiuding (Beijing) Pharmaceutical Investment Management Co., Ltd.; and Beijing New Hope Industry Investment Center (Limited Partners), corresponded by the management institute Beijing Hosen Investment Management Center (Limited Partners).
It is reported that before promulgation of the Notice, filings had been completed by several institutes including Tianjin CDH Equity Investment Phase I Fund, Hony Capital Industry Phase I Fund, Beijing Hony 2010 Equity Investment Center, China Media Equity Investment (Shanghai) Center, etc.
NDRC issued on February the Notice in February, prescribing that equity investment companies with a scale above 500 million yuan should be filed in NDRC, and the pilot regions aimed at were Beijing, Shanghai, Tianjin, Jiangsu, Zhejiang and Hubei.
In the Notice, “filing at one’s willing” is amended to “filing compulsorily”, and the content comprises two parts: development by complying with relevant laws and regulations, and filing administration. The Notice includes fund establishment, fund-raising, risk control, information disclosure, filing procedure, as well as industry self-discipline and supervision, etc.
Since June, 2008, China has conducted pilot works for filing administration of equity investment companies in the following regions subsequently: Tianjin Binhai New Area, Beijing Zhongguancun Science Park, Wuhan Donghu New& High Technology Development Zone, and Yangtze Delta Region. NDRC holds that through the pilots it is necessary now to promulgate a regulatory document to regulate and guide fund-raising and investment operation of the equity investment companies in the pilot regions to promote sustainable, healthy and regulations-complying development of the equity investment markets in the pilot regions.