China Select Capital Partners Receives Government Approval in Suzhou
April 23 2010 - 8:30AM
Marketwired
China Select Capital Partners Corp. (TSX VENTURE: CH) ("CH") has
received approval to manage Renminbi-denominated (RMB) 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,"
said 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 March 1, 2010, the Chinese government approved new
foreign-invested partnership (FIP) rules allowing for the
establishment of foreign investment companies and joint-venture
domestic investment management companies in China. The new FIP
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.
About China Select Capital Partners Corp.
China Select Capital Partners 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 leading 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. China Select's management team is composed
of talented and experienced investment professionals combining an
Asian background with Western education and extensive experience in
investment banking, venture capital and venture fund management in
Canada, China and the U.S.
On behalf of the board of CHINA SELECT CAPITAL PARTNERS
CORP.
Min Kuang, President, Chief Operating Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: China Select Capital Partners Corp. Joseph Fodor Chief
Executive Officer (604) 689-0618 jfodor@chinaselectcapital.com
China Select Capital Partners Corp. David Yoo Managing Director
(604) 689-0618 dyoo@chinaselectcapital.com
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