The Interim Measures for the Supervision and Administration of Private Investment Funds issued by the China Securities Regulatory Commission clarifies the rules for raising private equity funds, including not raising funds from units and individuals other than qualified investors, and not promoting them to unspecified objects through public media or lectures, reports, analysis meetings and notices, leaflets, text messages, WeChat, blogs, emails, etc. Do not promise investors that the principal will not be lost or guarantee the minimum income.

The "Measures" stipulate the appropriateness standards of qualified investors from three aspects: asset scale or income level, risk identification ability and risk tolerance, and single minimum subscription amount. At the same time, the method clarified the full-caliber registration and filing system. In the market access, private fund managers and private funds are not pre-approved, but based on the registration information of fund industry associations, industry information statistics, risk monitoring and necessary inspections are carried out afterwards; In the fund custody link, it is not mandatory to manage the fund property; In terms of information disclosure, there is no requirement for public information disclosure, but only major matters that need to be disclosed to investors. The CSRC recently issued the Interim Measures for the Supervision and Administration of Private Investment Funds, which will take effect as of the date of promulgation. Zhang Xiaojun, spokesman of the China Securities Regulatory Commission, said at the press conference on the 22nd that the Measures clarified the full-caliber registration and filing system, established a qualified investor system, clarified the rules for raising private equity funds, put forward relevant rules for regulating investment operation, and established institutional arrangements for self-discipline and supervision of different types of private equity funds.