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DeHeng Advised Wanhua Hexiang on Completing

the Registration as a Private Equity Fund Manager

2020-10-26


Recently, the application of Wanhua Hexiang Equity Investment Co., Ltd. ("Wanhua Hexiang") for the registration as a private equity fund manager was formally approved by the Asset Management Association of China.    


In June 2018, Chinese President Xi Jinping paid an inspection visit to Wanhua Hexiang Ecological Technology Co., Ltd. in Yantai Industrial Park and spoke highly of its formaldehyde-free straw wood-based panel products made of crop residues, and praised them as "good for the country and the people." The business also attracted much attention from Shandong Provincial Party Committee and People's Government. On January 5, 2019, the General Office of the Provincial People's Government issued the Three-year Action Plan for the Development of the Straw Wood-based Panel Industry in Shandong Province (2019-2021), proposing to build a national demonstration zone for the straw wood-based panel industry in the province. By the end of 2021, demonstration areas for the industry of straw wood-based panels and related non-formaldehyde building materials will be built in Yantai, Heze, Binzhou, Dezhou and Linyi, to upgrade Shandong's traditional wood-based panel industry and make it greener. These demonstration areas are also expected to grow into national models, to inspire major grain production areas such as Anhui, Hubei, Jiangsu, and Henan to follow suit, to build an annual production capacity of 5 million cubic meters, and lead the world in terms of production capacity and equipment intelligence.  


To this end, Wanhua Hexiang Ecological Technology registered and established Wanhua Hexiang in Yantai. The subsidiary is tasked with the management of industrial funds. Through transparent, efficient and compliant management, it hopes to channel social capital into industrial customized home decoration and related green industries downstream the industry chain, and help high-quality companies develop as quickly as possible.  


As the legal counsel, the DeHeng team, led by partner Bi Xiuli, with primary support from lawyers Wang He and Fang Tianhong, provided the client with whole-process, high-quality and professional legal services. 

Relevant Lawyer

  • Xiuli (Sally) BI

    Partner

    Tel:+86 10 5268 2888

    E-mail:bixl@dehenglaw.com

  • He WANG

    Partner

    Tel:+86 10 5268 2796

    E-mail:wanghe@dehenglaw.com

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