RMB Funds: An Updated Legal and Tax Wish List

Over the course of the past year China has introduced several noteworthy regulatory changes concerning RMB funds. Weil's commentary summarizes these developments, addresses ongoing impediments to the further development of RMB funds, and proposes a legal and tax wish list. This list includes allowing more local capital to be invested in private equity, providing sponsors with comfort regarding the operation of onshore-offshore fund structures, providing workable vehicles for the pooling of Chinese offshore capital, and formulating clear taxation policies to promote RMB funds.