ABSTRACT
This chapter traces the evolution of China’s outbound equity investment regimes. It shows how Hong Kong’s financial community and authorities have been instrumental in leading pro-opening coalitions and calling for liberalizing initiatives since the 2000s. With mixed success, the offshore parties secured support from onshore local governments and bureaucratic agencies, and addressed the concerns of competing interests and challenges from rival financial centers, disadvantaged financial interests, and government agencies wary of the policy risks. These dynamics resulted in a checkered policy journey and capital from China continuing to meet with considerable barriers to overseas equity investments.
