HONG KONG — Rich Chinese looking to invest offshore are hitting new roadblocks, as authorities step up scrutiny of a cross-border investment mechanism.
For China’s high-net-worth individuals and institutions, a decade-old program known as the qualified domestic limited partnership (QDLP) is a major channel to invest in offshore private and public markets. The system — only available to certain provinces and cities where local governments have the right to approve financial institutions and investment quotas — is key for foreign managers and banks with onshore operations to capture Chinese wealth.
