The quiet period is called "silent period". According to the Interim Provisions of China Securities Regulatory Commission on the Supervision of Administrative Licensing Law Enforcement, the silent period system is implemented in the audit process, that is, the period from the acceptance of application documents to the issuance of the first feedback and the period from the issuing department to the convening of the audit meeting is set as the "silent period", and the staff responsible for audit matters are not allowed to contact with the applicant and relevant intermediaries. This measure is called the "silent period" system.

Generally speaking, that is to say, many listed companies don't release any information to the outside world for a period of time before the first day of listing or a few days after listing, leaving them to comment, keep their mouths shut and remain silent. This is the so-called "silent period of listing".

The closure period is called "closed period", which generally refers to the fund closure period. That is, after the fund successfully raised enough funds to declare the fund contract effective, it will not accept the application of investors to redeem the fund share.