There are two ways to set up a fund, namely, registration system and approval system. Mode of fund establishment The fund registration system means that a fund can apply for registration as long as it meets the conditions prescribed by law. At present, most developed countries and regions adopt the registration system, such as the United States, Britain, Taiwan Province Province and Hongkong. The fund approval system means that the fund must not only meet the conditions stipulated by law, but also pass the substantive examination of the fund's main bone department before it can be established. In China, securities investment funds are still in the pilot stage, and the initiation and establishment of funds are relatively strict. The establishment of the fund must be approved by the China Securities Regulatory Commission and limited by the planning level.