TweetFollow @keeglobal Oaktree Capital Management, Och-Ziff Capital Management Group, Winton Capital Management Group, Winton Capital Management, Man Group PLC, Citadel and Canyon Partners are the first group of foreign hedge funds which received Chinese government's approval to operate in China as qualified Domestic Limited Partner (QDLP). They are allowed to raise RMB from China and invest overseas. Initially, each fund is permitted to raise $50mm. The total quota for QDLP will increase to $5 billion, eventually. Similar to QDII, QDLP is set up to improve the convertibility of RMB. It is the first time Chinese government warms up to hedge funds. People speculate that QDLP funds will be registered in the Shanghai Free Trade Zone, which is believed to allow more freedom for foreign investors.