McDermott Will & Emery has a strategic alliance with MWE China Law Offices, a separate law firm based in Shanghai. This China Law Alert was authored by MWE China Law Offices lawyers Jacqueline Cai and Delphi Bao.

Certain legal breakthroughs in foreign-invested private equity enterprises have finally been initiated in Shanghai.

After almost 10 months of discussion and deliberation, certain breakthroughs in foreign-invested private equity enterprises, including foreign-invested private equity funds and foreign-invested private equity management enterprises (collectively known as “FIPEEs”), have finally been initiated in Shanghai with the promulgation of Implementing Measures on Pilot Program of Foreign-Invested Private Equity Enterprises, “Implementing Measures”). The Implementing Measures were jointly issued by the Shanghai Financial Service Office (“SFSO”), Shanghai Commission of Commerce (“Shanghai MOFCOM”) and Shanghai Administration of Industry and Commerce (“Shanghai SAIC”) in December 2010 and came into force on January 24, 2011.