Financial sector regulators and officials from thirteen Asia Pacific Economic Co-operation (APEC) economies1 participated in an Asia Region Funds Passport (ARFP) policy and technical workshop in December 2012. It was the first time that China had participated in AFRP discussions. The workshop also engaged with fund management industry representatives.
Following this meeting, APEC invited tenders to study the potential economic benefits and costs of ARFP, although the report is not expected to be finalized until 2014. According to APEC, a working group was formed from representatives of interested economies to undertake detailed technical work on the proposed regime and met in May 2013. A technical model is expected to be presented to APEC Finance Ministers for endorsement in September 2013.