The Great Wall of China

Speaking with The Drawdown, Ming Bi, Head of Greater China at Alter Domus, describes how GPs raising RMB funds in China struggle to find the accounting software they need, adding to the challenges of regulatory reporting in the world's second-largest private equity market. 

English-only software and platforms incapable of little more than portfolio monitoring are serious barriers to accurate financial reporting. “We have seen some GPs use eFront for bookkeeping, but they need to find ways around generating the data for the reports which are submitted to the Asset Management Association of China (AMAC) and the local tax bureau. The Chinese regulator also needs the financial reporting for the China accounting standards, but platforms often lack the capability to handle that,” explains Ming.

To learn more about how GPs are navigating the Chinese regulatory environment, read the article here (subscription required).