The Alternative Investment Management Association (AIMA), the global hedge fund industry association, has signed a new memorandum of understanding (MoU) with the Asset Management Association of China (AMAC) in Beijing.
The MoU aims to boost the colloboration between the associations and will stregthen the exchange of information between AIMA and AMAC.
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The agreement will also ensure cooperation between the Chinese and international fund management industries.
Additionally, the MoU will enable the associations to jointly develop an exchange platform for onshore and offshore industry participants as well as facilitate the sustainable development of the hedge fund industry in China.
Jack Inglis, CEO of AIMA, said: "The signing of the MoU with AMAC, as well as the holding of our first major event in Beijing, underlines AIMA’s commitment to engaging with industry professionals, regulators and policymakers in China and the region."
Sun Jie, chairman of AMAC, said: "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.
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By GlobalData"In June 2013, the 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," he added.
