Foreign hedge funds set to get yuan fundraising toehold

Shanghai has started the countdown to the introduction of a "qualified domestic limited partner" (QDLP) scheme, which will allow foreign hedge funds to raise yuan capital on the mainland to make investments in overseas securities.

The city has submitted an application to the country's foreign exchange regulator for a US$5 billion quota, which may then be distributed to funds wishing to participate in the scheme.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1193285/foreign-hedge-funds-set-get-yuan-fundraising