Article 3 of the Measures for the Administration of Private Placement Management of Securities and Futures Operating Institutions stipulates that "Securities and futures operating institutions shall follow the principles of voluntariness, fairness, honesty and credit, and the supremacy of customers' interests, fulfill their duties, be cautious and diligent, safeguard the legitimate rights and interests of investors, serve the real economy, and shall not harm the national interests, social public interests and the legitimate rights and interests of others. Securities and futures operating institutions shall abide by prudent operating rules, formulate scientific and reasonable investment strategies and risk management systems, effectively prevent and control risks, and ensure that business development is compatible with capital strength, management ability and risk control level. "