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China Select receives government approval in Suzhou

China Select Capital Partners has received approval to manage Renminbi-denominated investment funds from the municipal government of Suzhou Industrial Park as an onshore fund management company.

"China Select is one of the first Canadian firms to be granted a license to manage RMB-denominated private equity funds in China," says Joseph Fodor, chief executive officer of China Select. "We are extremely excited about this unique opportunity to establish RMB funds investing in China alongside our renowned and respected joint-venture domestic partners in China."

On 1 March 2010, the Chinese government approved new foreign-invested partnership rules allowing for the establishment of foreign investment companies and joint venture domestic investment management companies in China.

The new regulations open the possibility to allow for foreign-invested onshore management entities and onshore private equity investment entities to be incorporated in major Chinese localities giving foreign investors the opportunity to invest in RMB into local domestic-only market opportunities previously unavailable to foreigners.

China Select is a Canada-based asset and investment management firm focused on managing and facilitating foreign investment in the private equity RMB fund industry and investing in private and public companies whose businesses involve later-stage renewable energy, environmental technology or other selected sectors and identify an exit strategy either in China or North America.
 

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