China Amends Law to Regulate Private Equity Funds, Xinhua Says

China will amend its fund law to start regulating private equity funds, Xinhua News Agency said, citing Wu Xiaoling, vice chairman of the Financial and Economic Committee of the National People’s Congress.

A draft amendment has been submitted to NPC for review, Xinhua said. The amendment aims regulate all kinds of private equity funds and will allow them to invest in the shares of unlisted companies, according to the official news agency.