Hainan FTP’s first QFLP fund officially put into operation

The first QFLP (Qualified Foreign Limited Partner) fund of the Hainan Free Trade Port introduced by the Bank of Communications has been put fully in place with 99.98 million US dollars, marking a new stage of the operation of Hainan QFLP funds.

The first QFLP fund of the Hainan Free Trade Port, jointly founded by the BOCOM International Holdings Co., LTD and the BOCOM International Equity Investment Management (Shenzhen) Co., LTD, focuses on the new generation of information technology, financial technology, and high-end equipment. And it aims to support the development of related domestic high-tech enterprises.

The QFLP system enables qualified international investors to convert overseas capital into RMB funds and invest in the domestic PE (private equity) and VC (venture capital) markets after passing qualification approval and the supervision procedures for foreign exchange funds. 

Since the start of this year, Hainan has been working on researching and improving related measures to promote the aggregation and development of QFLP funds. At present, Hainan Province is speeding up the release of interim measures for QFLP funds, which propose no minimum market access threshold for the registration of QFLP enterprises and no differential treatment for domestic and international investment, and that negative list management will be implemented for investment.