（InKunming Lexi）Recently, the Kunming Area of China (Yunnan) Pilot Free Trade Zone (Kunming Economic and Technological Development Zone, hereafter referred to as Kunming Area) has innovatively issued the "Implementation Rules for Qualified Foreign Limited Partnership Pilot Program (Trial)" and "Working Mechanism of the Leading Group for Qualified Foreign Limited Partnership Pilot Program", marking Yunnan’s first QFLP pilot program officially launched in the Kunming Area. 

QFLP refers to Qualified Foreign Limited Partner, including overseas natural persons, industrial capital, institutional funds, and other qualified foreign limited partners participating in the pilot fund. It serves as an important channel for foreign investors to participate in domestic investments and a new model of foreign investment by privately raising funds from domestic and overseas investors, and investing in the equity of unlisted domestic companies. Currently, more than 70 regions across the country have implemented the QFLP pilot program.

Aimed at further improving the utilization of foreign capital and promoting industrial upgrading, the QFLP pilot program is an innovative business that Yunnan Province carried out on a trial basis in the Kunming Area. It will enhance a new high-level opening-up of the financial industry in the Kunming Area, support the expansion of foreign investment utilization, and attract internationally renowned investment institutions to settle in Kunming.

According to the detailed rules, fund management companies applying for QFLP pilot funds are not restricted by their place of registration. They only need to complete registration at the Asset Management Association of China and have a cumulative management scale of more than 5 billion yuan to qualify as pilot fund management companies. After registering and establishing in the Kunming Area or the Mohan-Boten Economic Cooperation Zone, the pilot funds can be invested in projects across the country that comply with relevant national laws and regulations.

“This year, Kunming will fully leverage the role of the special team for foreign investment projects  and actively strive for breakthroughs in the QFLP pilot program to enhance the quality and increase the volume of foreign investment utilization”, said relevant person in charge from the Kunming Investment Promotion Bureau. As industrial funds serve as an important means to attract social capital, and optimize and upgrade the industrial structure, Kunming has established municipal-level industrial investment funds with a capital scale of 9.56 billion yuan, ensuring the implementation of several major projects at the municipal level, including Wingtech Technology and Shanshan New Energy.

Recently, Kunming Municipal Commerce Bureau, Kunming Municipal People's Government Financial Office, and Kunming Investment Promotion Bureau jointly organized the "2023 Kunming Qualified Foreign Limited Partnership (QFLP) Pilot Program Symposium and Government Industrial Investment Fund Training Session" to facilitate the promotion of high-quality industrial development by utilizing capital attraction.

近日，昆明经开区（自贸试验区昆明片区）结合实际、创新出台《合格境外有限合伙人试点工作实施细则（试行）》和《合格境外有限合伙人试点领导小组工作机制》，标志着云南省首个QFLP试点工作在昆明片区正式启动。

QFLP即合格境外有限合伙人，是指参与试点基金的境外自然人、产业资本、机构基金等合格境外有限合伙人。以非公开方式向境内外投资者募集资金，投资于境内非上市公司股权，是境外投资人参与境内投资的重要渠道，是一种新型的外商投资模式。截至目前，全国已有70多个地区开展了QFLP试点。

QFLP试点是云南省在昆明片区试行的创新业务，目的是进一步完善利用外资体系、助推产业升级。此举将加大推进昆明片区金融业新一轮高水平对外开放，支持昆明市扩大利用外资和吸引更多国际知名投资机构入驻。

按照该细则，申请QFLP试点基金的基金管理企业不受注册地限制，只需在中国证券投资基金业协会完成备案登记，累计管理规模达到50亿元以上的基金管理人就可以申请成为试点基金管理企业。试点基金在昆明片区或磨憨—磨丁合作区注册成立后，可投向各地符合国家相关法律规定的项目。

“今年，昆明将充分发挥外资项目专班作用，积极争取在合格境外有限合伙人（QFLP）试点工作上有所突破，推动实际利用外资工作提质增量。”昆明市投资促进局相关负责人表示，产业基金作为招引社会资本的重要途径和产业结构优化升级的工具，昆明市成立了市级产业投资基金，出资规模达到95.6亿元，保障了包括闻泰科技、杉杉新能源在内的多个市级重大项目落地。

近日，昆明市商务局、金融办、投资促进局联合举办了“2023年昆明市合格境外有限合伙人（QFLP）试点工作座谈交流活动暨政府产业投资基金培训会”，助力利用资本招商推动产业高质量发展。（中文稿件来源：云南网）