The Shanghai District of Pudong announced at the Shanghai International Hedge Fund Summit that it will set up an ‘offshore-finance pilot zone’ to carry out cross border wealth management. This statement is backed by a recent decision from the State Council Executive Committee to expand certain Shanghai FTZ features to all of Pudong. Details are still being worked out, but the Director of the Pudong Financial Services Bureau Private Fund Industry Development Office revealed that the intention is to accommodate 20 to 30 of the top international asset managers in the pilot zone.
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