The fund promoters are mainly responsible for applying to the competent authorities for approval of the establishment of the fund during its establishment. After the establishment of the fund is approved, it is responsible for fund raising, so that the fund can be raised smoothly and put into investment operation. According to the Interim Measures for the Administration of Securities Investment Funds, in the process of establishing contractual funds in China, fund sponsors should be responsible for signing documents that play an important role in the issuance and operation of funds, including: an agreement between sponsors to initiate the establishment of funds; Fund contracts signed by the promoters, fund managers and custodians; Custody agreement signed by the sponsor and the fund custodian; Prospectus. When making the above-mentioned documents, the fund sponsors shall ensure the authenticity, accuracy and completeness of the documents, and the format and content meet the requirements of the China Securities Regulatory Commission. When the promoters apply to the China Securities Regulatory Commission for approval of the establishment of the fund, they shall submit the necessary documents to the China Securities Regulatory Commission. These documents include not only the above-mentioned sponsorship agreement, fund contract, custody agreement and prospectus, but also the application, fund-raising plan, legal opinions issued by lawyers and the financial statements of the sponsors in the past three years. At the same time, the proportion of fund sponsors' subscription share in initiating the establishment of the fund and the proportion of fund shares held during the duration of the fund shall comply with the provisions of the China Securities Regulatory Commission. After the establishment of the fund is approved, the fund sponsors are responsible for the issuance and raising of the fund. According to the provisions of the Administrative Measures, the promoters shall publish the prospectus of fund raising in the newspapers and periodicals designated by the China Securities Regulatory Commission three days before the fund raising, and then sell the fund shares according to the fundraising plan approved by the China Securities Regulatory Commission. If the fund raising fails to comply with laws and regulations, the fund issuance fails, and the fund promoters shall be responsible for returning the raised funds and the interest calculated according to the bank deposit rate to the fund subscribers within 30 days, and bear all the issuance expenses.