On November 1, the local financial supervision and administration of Guangdong Province officially issued the Interim Measures for Guangdong Province to carry out the pilot work of overseas investment by qualified domestic limited partners. This means that after Shenzhen, Guangdong Province can carry out the pilot of qualified domestic limited partners (hereinafter referred to as qdlp). As a new foreign investment channel, what is the special significance of qdlp? How can enterprises make good use of qdlp for foreign investment? Compared with other regions in China, what are the highlights of the pilot project in Guangdong? On November 2, the Provincial Local Financial Supervision Bureau, Guangdong Branch of the State Administration of foreign exchange, Guangzhou Local Financial Supervision Bureau, Financial Development Bureau of Hengqin Guangdong Macao deep cooperation zone, Zhuhai Financial Work Bureau and other departments held a press conference to explain the Guangdong qdlp pilot around the above problems. Guangdong has approved a pilot quota of US $5 billion "Compared with the traditional way of foreign investment, the qdlp pilot has been further liberalized in terms of subject and investment scope. The investment operation subject is mainly private institutions. The investment scope includes both the primary market and the secondary market, and the investment mode is more flexible." Tong Shiqing, deputy director of the provincial Local Financial Supervision Bureau, introduced at the press conference. The reporter learned from the press conference that in March 2021, the State Administration of foreign exchange approved Guangdong to carry out the pilot, giving Guangdong a pilot quota of US $5 billion, which indicates that qdlp pilot can be carried out in the whole province after Shenzhen. Su Yun, deputy director of Guangdong Branch of the State Administration of foreign exchange, introduced at the press conference that in terms of investment scope, the funds participating in the qdlp pilot can not only invest in the equity of overseas non listed companies, but also invest in the non-public issuance and trading stocks and bonds of overseas listed companies, overseas securities markets Overseas equity investment funds and securities investment funds, as well as bulk commodities and financial derivatives. In terms of foreign investment quota management, the foreign investment quota of qdlp pilot is subject to balance management, and the foreign investment quota of a single fund can be flexibly adjusted among the pilot funds established by qdlp. He said that carrying out the qdlp pilot can further broaden the overseas investment channels of domestic entities and meet the needs of diversified asset allocation. It is a powerful measure to promote the two-way opening of China's financial market and support the construction of a new pattern of high-level opening to the outside world. Tong Shiqing said that the qdlp pilot will broaden the scope of overseas investment, improve the efficiency of asset allocation, provide financial products and services to meet the wealth management needs of residents and enterprises, and better promote Guangdong enterprises to "go global". In addition, the full implementation of the pilot in Guangdong is also conducive to building a frontier for RMB internationalization and cross-border financial services to the real economy, strengthening cross-border financial cooperation and innovation, and accelerating the construction of a new open economic system. Guangzhou will give subsidies to pilot enterprises At present, private fund management enterprises in Guangdong are mainly concentrated in Guangzhou, Shenzhen, Zhuhai, Hengqin cooperation zone and other places. At the press conference on the same day, Xu Xiubin, deputy director of Guangzhou Local Financial Supervision Bureau, said that carrying out the qdlp pilot will further unblock the foreign investment channels of domestic capital, introduce more high-quality overseas high-tech projects, cultivate and expand Guangzhou's strategic emerging industries and form a new driving force for economic growth. At the same time, Guangzhou has a good financial market environment and a large number of financial professionals. Carrying out the qdlp pilot will further improve the level of Guangzhou's financial opening to the outside world and promote the interconnection of domestic and foreign financial markets. It is reported that at present, the safe has approved the qdlp pilot in Shenzhen, Tianjin, Qingdao, Beijing, Hainan, Guangdong, Jiangsu, Chongqing and other places, and Guangdong has become the first province to delegate the approval authority to the relevant urban financial regulatory authorities. "Private fund management enterprises in Guangzhou, Shenzhen, Zhuhai, Hengqin cooperation zone and other places are relatively concentrated. At the same time, these areas have strong regulatory ability." in this regard, Tong Shiqing introduced that in addition to Shenzhen, 90% of the existing private fund management enterprises in the province that meet the qdlp pilot conditions are in Guangzhou and Hengqin Guangdong Macao deep cooperation zone. Decentralizing the examination and approval authority will greatly shorten the application process of enterprises, improve the examination and approval efficiency and optimize the business environment, which is in line with the requirements of the national "release management service" reform. At the same time, the decentralization of approval power will help give play to the "two city linkage" effect of Guangzhou and Shenzhen and improve the financial development level of central cities. How to make good use of the qdlp pilot policy? Xu Xiubin said that Guangzhou will strengthen the support of qdlp pilot policies, implement the relevant support policies for two-level venture capital and venture capital in Guangzhou, give incentives and subsidies to qualified pilot fund enterprises, and actively create a good environment for qdlp pilot in Guangzhou. Wang pan, deputy director of Zhuhai Municipal Bureau of financial work, said that Zhuhai has taken the initiative to contact and connect with a number of private placement institutions with the ability to participate in the pilot, and there are already a number of reserve projects. Chi Tenghui, acting director of the Financial Development Bureau of Hengqin Guangdong Macao deep cooperation zone, said that Hengqin has taken the initiative to connect with a number of enterprises interested in participating, has reserved a number of projects and plans to apply for a quota of more than US $1 billion, which has laid a foundation for the cooperation zone to accelerate the implementation of pilot enterprises after the introduction of the pilot measures. (outlook new era)