Hong Kong asset management firm Value Partners Group Limited has obtained a Qualified Domestic Limited Partner (QDLP) license from the Shanghai municipal government and an initial US$100 million quota to manage cross-border private investment funds, says a company announcement. The license will allow Value Partners to tap into the increasing wealth of China's high-net-worth individuals and institutional investor assets and invest them in overseas markets. "Value Partners will…deliver a suite of world-class products for domestic investors on the mainland," says Timothy Tse, chief executive officer of Value Partners. Currently, 99.4% of Chinese households' assets are held in RMB with...