(1) The investment direction of the fund conforms to the national industrial policy;

(2) The promoters must have more than 3 years of industrial investment or related business experience, and have continuously protected their good financial status within 3 years before filing the application, and have not been severely punished by the relevant competent authorities or judicial institutions.

(3) As promoters, except for industrial fund management companies and industrial fund management partnership companies, the paid-in capital of each promoter shall not be less than 200 million yuan; As a natural person as a promoter, the personal net assets of each promoter shall not be less than 6,543,800 yuan;

(four) other provisions of the management authority.

Article 7 Apply for the establishment of an industrial fund; The promoters shall submit the following documents and materials to the administrative organ:

(1) An application report;

(2) Basic information about the enterprises and projects to be invested;

(three) the list of sponsors and the agreement to initiate the establishment of industrial funds;

(4) Financial reports audited by accounting firms in the last three years;

(5) A legal opinion issued by a law firm;

(6) Prospectus, articles of association of the fund company, entrusted management agreement and entrusted custody agreement;

(seven) the letter of appointment of the accounting firm, law firm and other intermediary institutions or personnel with relevant business qualifications recognized by the management authority;

(eight) other documents required by the administrative organ.

The contents and formats of the prospectus, articles of association of the fund company, entrusted management agreement and entrusted custody agreement mentioned in the preceding paragraph shall be stipulated separately. Industrial funds can only issue fund shares to specific investors.

In the process of raising funds, sponsors must let investors read the prospectus and sign the subscription commitment letter, which can only be issued to investors after the approval of the management authority.

The number of investors shall not exceed 200. Industrial funds must be established in a closed way, that is, the total amount of issuance and duration are determined in advance, and the fund shares can only be transferred during the duration.

The duration of an industrial fund shall not be shorter than 10 year and longer than 15 year. However, due to poor management or other reasons, it is terminated early with the approval of the fund company's shareholders' meeting and management organization, and can be renewed with the approval of the fund company's shareholders' meeting and management organization. The expansion and renewal of industrial funds shall meet the following conditions and be approved by the management authority:

(a) the annual rate of return in the last three years has continuously exceeded the industry average;

(2) There has been no major violation of laws and regulations in the last three years;

(3) The shareholders' meeting (shareholders' meeting) agrees to raise shares or update shares;

(4) Other conditions as prescribed by the administrative organ.

To apply for subscription and renewal, relevant documents shall be submitted in accordance with the requirements of the administrative organ.