But potentially the most interesting development took place late last year when the central authorities gave Newbridge Capital the go-ahead to take a controlling stake in Shenzhen Development Bank.
An example: several years ago, when a startup software company ran into challenges and sought urgently needed capital, a PE firm invested in the company and became its controlling shareholder.
"We would like to know about Genii Capital and who is doing what in the team - a partner can be a sleeping partner or a controlling partner, " he said.