(1) The fund raising complies with the provisions of the Fund Law; (2) The term of the fund contract is more than five years; (3) The amount raised by the fund is not less than 200 million yuan; (4) The number of fund share holders shall be no less than 1000; (5) Other conditions stipulated in the rules for listing and trading of fund shares.

According to the draft regulations promulgated by the state last year, fund managers applying for listing and trading of fund shares of closed-end funds on the stock exchange shall report to the the State Council securities regulatory authority for approval. The State Council securities regulatory authority may authorize the stock exchange to approve the listing and trading of fund shares according to legal conditions and procedures.