28 September 2023
On 28 September 2023, the Bureau of Financial Work of the Guangzhou Development Zone issued the “Implementation Measures for Constructing the Cross-border Wealth Management and Asset Management Centre for the Guangdong-Hong Kong-Macau Greater Bay Area in the Guangzhou Development Zone and Huangpu District of Guangzhou Municipality” (“the Measures”). The Measures proposed that fund management enterprises under Qualified Foreign-invested Limited Partner (“QFLP”) and Qualified Domestic Limited Partner (“QDLP”) scheme that are registered with the Asset Management Association of China (“AMAC”), established funds in Guangzhou Development Zone and completed record filing in accordance with relevant laws and regulations are provided with a one-off award based on 0.5% of fund raised. The maximum of the award granted is RMB500,000. The Measures will be effective from 28 September 2023 and be valid until 27 April 2025.