Fund participants generally include three categories, namely, fund parties, market service institutions and industry supervision and self-discipline organizations.

1. Fund parties: share holders (i.e. investors), fund managers and fund custodians (generally commercial banks).

2. Market service institutions: fund sales institutions, fund registration institutions, law firms and accounting firms.

3. Regulatory self-regulatory organizations: fund regulatory agencies (CSRC) and fund self-regulatory agencies (Securities Industry Association).