Our partners Richard GUO, CHEN Zhen, Candy TANG, Flora QIAN, ZHAO Yan, REN Zhiyi and Sherman DENG have authored the China chapter of the newly released Chambers Alternative Funds 2025. 

Chambers Alternative Funds 2025 covers close to 20 jurisdictions and provides the latest legal information on fund structures, regulatory and tax regimes, disclosure and reporting requirements, roles of fund managers and investors, rules on permanent establishments, marketing of alternative funds, FATCA and CRS compliance, AML and KYC regimes, and data security and privacy issues. 

In the China chapter, our partners detail China's multitiered regulatory system, led by the CSRC, the institutional regulator,  and the Asset Management Association of China (AMAC), the industrial self-regulator, of the private funds sector. This system oversees fund types such as private equity funds, venture capital funds, hedge funds, real estate and infrastructure funds, distressed funds, etc. Our partners outline the key requirements and market norms that market participants should follow or take into account in fundraising, portfolio investments and fund operation, including: registering fund managers and filing funds with AMAC, following the qualified investor criteria and investor onboarding processes, complying with rules on fund marketing, fund operation and meeting detailed disclosure obligations. 

Meanwhile in the Trends & Developments section, our partners explore current market and industry trends. They discuss how the sector is shifting from rapid growth to a focus on quality. Key drivers of this change include: 

• regulations increasingly emphasizing transparency and investor protection 
• government investment being directed toward emerging industries and hard tech industries
• ESG and data protection frameworks evolving from optional guidelines to market norms. 

Fangda Partners is a recognized firm in China's private funds and alternative asset management sectors. We are known for our deep industry expertise and our ability to provide legal support across the entire lifecycle of private funds and alternative asset investments. We help clients tackle complex market challenges and are often invited to advise on regulatory reforms. With a practical and forward-looking approach, we support clients in navigating complex markets and achieving sustainable growth.
Anyone looking to understand the developments and trends in China’s Alternative Funds sector can read online for free here: https://practiceguides.chambers.com/practice-guides/alternative-funds-2025/china.