After a two-year wait, Chinese regulators have revived a programme allowing global asset managers including JPMorgan Chase to raise funds from Chinese onshore clients for investment in offshore hedge funds.
The easing of capital controls shows how Chinese regulators are increasingly relaxed about cross-border capital flows amid a stable Chinese economy and persistent dollar weakness.
JPMorgan Asset Management has received a new quota for the programme, and several other asset managers are expecting similar allotments, according to three people familiar with the situation. JPMorgan received a $50m quota in January, one of those people said.
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