A fund management company refers to a company established in accordance with relevant laws and regulations to manage fund raising, fund share subscription and redemption, fund property investment, income distribution and other fund operation activities.

A financial institution refers to an institution engaged in financial business under the supervision and management of the financial management department of the State Council. The industries covered are banking, securities and insurance.

According to status and function, it is divided into four categories:

First, the central bank. The central bank in China is the People's Bank of China.

The second category is banking financial institutions. Including policy banks, commercial banks, bank franchising, etc.

The third category is non-bank financial institutions. It mainly includes state-owned and joint-stock insurance companies, securities companies (investment banks), finance companies and third-party wealth management companies.

The fourth category is foreign-funded, overseas Chinese-funded and Sino-foreign joint venture financial institutions established in China.