The Beijing municipal government has flagged plans to expand the regional secondary market for privately offered equity in the city.
Yin Yong (殷勇), vice-mayor of Beijing, said that Beijing would further optimise the investment environment for the development of private offered equity, and would drive several measures including:
- Accelerating the development of a secondary market for private equity;
- Continually improve relevant tax collection mechanisms;
- Continually drive new Third Board Reforms;
- Further optimise policy trials for domestic Qualified Domestic Limited Partnerships (QDLP), Qualified Foreign Limited Partnerships (QFLP), and renminbi investment funds.
Yin made the remarks on 8 September at the 2020 Global PE Forum held in Beijing.
Yin said that Beijing was the best region in China for the development of privately offered equity, and would engage in various forms of preparatory and response work to support the development of tech innovation in the city.
The latest signal from the Beijing municipal government arrives amidst the release of a raft of new policies and plans for the city’s economic development, including a new digital economy plan, and plans for the establishment of an international big data exchange, a fintech risk control centre and a new free trade zone.