A new pilot program may boost investment in Portuguese-speaking countries, said the acting director of the Financial Development Bureau of the Guangdong-Macao Deepening Cooperation Zone.
The authorities of Guangdong province, the province that is considered China’s economic engine, last week announced a set of measures for the Qualified Domestic Limited Partners Overseas Investment (QDLP) program a pilot program developed by Chinese local governments that allows foreign and domestic asset managers to raise investment from Chinese institutional and commercial partners for overseas investment through a Chinese feeder product.
The QDLP program is quota-based, meaning that the decision of which local governments would launch such a program, and to what extent (i.e., the total investment that would be allowed to leave China and be invested abroad) the program would be launched, depends largely on the quota granted by SAFE.
Deputy director of the Guangdong Provincial and Local Financial Supervision Bureau, Tong Shiqing, said the measures will strengthen cross-border financial cooperation and help develop the Guangdong-Hong Kong-Macau Greater Bay project.
Chi Tenghui told the local Chinese-language newspaper that the program “will bring the Chinese and Portuguese-speaking financial markets closer together, taking advantage of Macau’s role as a financial services platform for the entire community of Portuguese-speaking countries.”
Guangdong (formerly Guangzhou), is a coastal province in southeastern China that borders Hong Kong and Macau and has its capital in Guangzhou, the industrial region of the Pearl River Delta and a huge port city.
