Hello, fund sales business refers to an intermediary business in which financial institutions accept the entrustment of fund managers, sign written consignment agreements, sell open-end funds on behalf of fund managers, accept investors' applications for subscription, purchase and redemption of open-end funds, and provide supporting services. Funds can only be sold by their managers or entrusted by institutions with fund sales business qualifications (and become members of China Foundation Association).

There is not much difference between public offering and private offering. The cooperative institutions in Public Offering of Fund are generally large commercial banks (commonly known as consignment channels), and the cooperative institutions of private equity funds are mostly third-party wealth management, mainly because the entry threshold of banks is too high. Even if they enter the white list of banks, because private equity products usually start at RMB 6,543,800+0,000, they need to discuss the share with the private banking department of banks, which is much higher than that with the personal finance department.