China to issue formal regulations on private equity

ChinaÆs State Council says its test-pilot programme for domestic private equity is nearing a final stage. It is giving out four more licenses to private-equity firms for onshore investments. The four include a water utilities fund, an industrial-focused fund for ChinaÆs northeast, a Tianjin shipping industry fund, and another invested in urban infrastructure. In particular, the Huayu water utilities fund is said to have already attracted financial backing from the China Development Ba…