There is no level. China Fund Industry Association was established on June 6, 20 12. It is a national, industrial and non-profit social organization voluntarily composed of relevant institutions in the fund industry. The fund industry association is not a state government agency, so the president of China Fund Industry Association has no rank, but rank is the title used by state government agencies. The members of the fund industry association include fund management companies, fund custodian banks, fund sales agencies, fund rating agencies, other asset management agencies and related service agencies.