DeHeng Advised China Xiong'an Group Fund Management Co., Ltd. 

on Registering as a Private Equity Manager

2018-11-13

China Xiong'an Group Fund Management Co. Ltd. completed its registration as a private equity manager on November 9, 2018, with the Asset Management Association of China ("AMAC"). China Xiong'an Group Fund Management Co. Ltd., a subsidiary of China Xiong'an Group Co. Ltd., wholly controlled by the Hebei Provincial People's Government, with a registered capital of RMB 100 million. While China Xiong'an Group is the primary force for investment, financing, development, construction and operation in Xiong'an New Area as well as the integrated operational service platform through which to build Xiong'an New Area, China Xiong'an Group Fund Management represents a crucial part of the investment and financing businesses by China Xiong'an Group. The completion of China Xiong'an Group Fund Management's registration with the AMAC signals its parent company's foray into the private equity and entrepreneurial investment.

As a matter of top concern to China for centuries, Xiong'an New Area has since its very beginning attracted much attention. The Outline of Planning for Xiong'an New Area of Hebei was promulgated this April, which unveiled the grand blueprint for Xiong'an New Area: to build it into a high-level socialist modern city that is green, low-carbon, intelligent, livable, competitive and influential and features harmony between man and nature by 2035, and into a high-quality, high-level socialist modern city as a key member of a world-class cluster of cities in the region of Beijing, Tianjin and Hebei by the mid of this century. As an important part of China Xiong'an Group's investment and financing business, China Xiong'an Group Fund Management will in the future release immense power through its financial instruments, and play a key role in development of Xiong'an New Area.

DeHeng has followed the policy guidelines of the country closely and actively provided legal services with respect to Xiong'an New Area. Engaged to advise China Xiong'an Group Fund Management on its registration as a private equity manager, DeHeng set up a project team led by its Beijing Office partner Mu Hongbao, which, with the main member lawyers Wang Ziheng, Wang Miao and legal assistant Cheng Bin, to provid professional, comprehensive and excellent legal services for the project.