Regulations on the Establishment and Operation of Investment Funds and Private Equity Funds

Regulations on the Establishment and Operation of Investment Funds and Private Equity Funds

Article 1: These Regulations are formulated in accordance with the Securities Investment Fund Law of the People's Republic of China and other relevant laws and administrative regulations, to regulate the establishment and operation of investment funds and private equity funds, protect the legitimate rights and interests of investors, and promote the healthy development of the capital market.

Article 2: The term "investment funds" as used in these Regulations refers to securities investment funds established in accordance with the law, which raise funds from investors through public offering or non-public offering, invest in securities such as stocks, bonds, and fund shares, and share risks and returns.

The term "private equity funds" refers to investment funds established through non-public offering, which invest in unlisted enterprises, equity of listed enterprises, and other assets.

Article 3: The establishment and operation of investment funds and private equity funds shall comply with laws, administrative regulations, and the provisions of these Regulations. The legitimate rights and interests of investors shall be protected.

Article 4: The establishment and operation of investment funds and private equity funds shall follow the principles of voluntariness, fairness, honesty, and credibility.

Article 5: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the China Securities Regulatory Commission (CSRC) regarding fund filing, information disclosure, and investor suitability management.

Article 6: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund custody, fund account management, and fund valuation.

Article 7: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund investment scope, investment restrictions, and risk control indicators.

Article 8: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund manager qualifications, fund custodian qualifications, and service agency qualifications.

Article 9: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund information disclosure, investor education, and dispute resolution.

Article 10: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund tax policies, fund accounting standards, and fund audit requirements.

Article 11: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund marketing, fund sales, and fund distribution.

Article 12: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund liquidation, fund dissolution, and fund bankruptcy.

Article 13: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund supervision, fund inspection, and fund penalties.

Article 14: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund innovation, fund pilot programs, and fund reform.

Article 15: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund internationalization, fund cross-border investment, and fund cooperation.

Article 16: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund technology, fund digitalization, and fund intelligence.

Article 17: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund ESG, fund green finance, and fund sustainable development.

Article 18: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund risk prevention, fund systemic risk, and fund stability.

Article 19: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund service, fund convenience, and fund efficiency.

Article 20: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund culture, fund ethics, and fund responsibility.

Article 21: The establishment and operation of investment funds and private equity funds shall comply with the provisions of the CSRC regarding fund talent, fund training, and fund development.

Article 22: These Regulations shall come into force on the date of promulgation.

Article 23: The CSRC shall be responsible for the interpretation of these Regulations.