Legal analysis: Private equity funds in China have been found to be relatively mature, so the benefits of private equity funds should not be underestimated. At this time, we should take seriously the gains and losses that private equity funds can bring to us. Therefore, it can be established under certain conditions, and the establishment of private equity fund companies should generally be carried out in accordance with the corresponding procedures.

Legal basis: Article 2 of the Interim Measures for the Supervision and Administration of Private Investment Funds The private investment funds mentioned in these Measures (hereinafter referred to as private investment funds) refer to investment funds established by private fundraising from investors in People's Republic of China (PRC).

The investment of private equity fund property includes buying and selling stocks, equity, bonds, futures, options, fund shares and other investment targets agreed in investment contracts.

These Measures shall apply to the registration, fund raising and investment operation of companies or partnerships established for the purpose of investing in private equity funds and assets managed by fund managers or general partners.

These Measures shall apply to securities companies, fund management companies, futures companies and their subsidiaries engaged in private equity fund business. Where other laws and regulations and the relevant provisions of China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) provide otherwise for the above-mentioned institutions to engage in private equity fund business, such provisions shall apply.

Article 91 of the People's Republic of China (PRC) Securities Investment Fund Law shall not raise funds from units or individuals other than qualified investors, and shall not publicize and promote them to unspecified objects through newspapers, radio stations, television stations, the Internet and other public media or lectures, reports and analysis meetings.