China’s AMAC signs first international MoU 27 June 2014Beijing Reporter: Catherine Van de Stouwe
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The Alternative Investment Management Association (AIMA) has signed a memorandum of understanding (MoU) with the Asset Management Association of China (AMAC).
This is the first time AMAC has signed an MoU with an international organisation.
The signing of the MoU highlights the commitment of the associations to strengthening exchange and cooperation between the Chinese and international fund management industries.
The MoU signing was part of a five-day trip to Beijing by senior AIMA representatives during which AIMA was also appointed to AMAC’s newly formed International Partners Committee (IPC).
The IPC’s inaugural meeting was followed by AMAC’s annual conference at which AIMA CEO Jack Inglis gave a keynote speech on the regulation of hedge funds in capital markets.
The week concluded with the first International Hedge Fund Leadership Forum in Beijing, a conference jointly hosted by AIMA and AMAC, which examined some of the current regulatory, operational and marketing challenges facing hedge funds.
Jack Inglis, CEO of AIMA, said the MoU signing underlines AIMA’s “commitment to engaging with industry professionals, regulators and policymakers in China”.
He added: “We have of course taken a very strong and active interest in China for some time.”
“We are very much looking forward to working more closely with our colleagues at the Asset Management Association of China, and I would like to pay a special tribute to the chairman of AMAC, Dr Sun Jie, for helping to foster such a warm and collaborative relationship between our two organisations.”
Jie added: “As the main trade association of China’s asset management industry, AMAC has been developing close cooperative relationships with international counterparts and we are pleased to celebrate our strong relationship with AIMA through the signing of our first international MoU with them.”
“In June 2013, [China’s] Funds Law was extended to cover non-public funds; and after the ‘nine-points’ policy issued by the State Council, the hedge fund industry in China is facing a historic market opportunity and huge development space.
“Through the signing of this AIMA/AMAC MoU, as well as our co-hosting of the first International Hedge Fund Leadership Forum with AIMA, we look forward to jointly building up an exchange platform for onshore and offshore industry participants; and facilitating the sound and sustainable development of the hedge fund industry in China.”
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