Chinese private equity and venture capital firms with debt investment and their limited partners would face challenges because of a document on shadow banking, according to a report of ChinaVenture Group on Thursday.

The China Securities Journal reported on Tuesday that the central government has issued a document aimed at clarifying the characteristics of shadow banking.

The document also said PE and VC firms are not allowed to have debt investments.

The report said PE and VC firms with deals of film and television and mining would be influenced by the document, because they chose both equity and debt investment in many of these deals.

Limited partners will also face challenges because PE and VC firms can no longer have debt investments and their risks rise.

There’s been no official confirmation of the document.