As a fund manager, it shall be approved by the the State Council Securities Regulatory Authority.
Article 13 To establish a fund management company, the following conditions shall be met and approved by the the State Council Securities Regulatory Authority:
(1) Having articles of association that conform to this Law and the Company Law of People's Republic of China (PRC);
(2) The registered capital shall not be less than 1 billion yuan, and it must be paid-in monetary capital;
(3) The major shareholder has good business performance and social reputation in securities business, securities investment consulting, trust asset management or other financial asset management, has no illegal record in the last three years, and has a registered capital of not less than 300 million yuan;
(four) the number of personnel who have obtained the qualification for fund practice has reached a quorum;
(5) Having business premises, safety precautions and other facilities related to the fund management business that meet the requirements;
(6) Having a sound internal audit monitoring system and risk control system;
(seven) other conditions stipulated by laws, administrative regulations and the State Council securities regulatory agency approved by the State Council.
Article 14 The the State Council securities regulatory authority shall, within six months from the date of accepting the application for the establishment of a fund management company, make a review according to the conditions stipulated in Article 13 of this Law and the principle of prudent supervision, make a decision on approval or disapproval, and notify the applicant; If it is not approved, it shall explain the reasons.