To establish a fund management company, the following conditions shall be met:

(1) Having articles of association that conform to this Law and the Company Law of the People's Republic of China;

(2) The registered capital is not less than 1 million yuan, and it must be paid-in monetary capital;

(3) The major shareholder has good business performance and good 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 3 million yuan;

(4) The number of personnel who have obtained the qualification for fund practice has reached a quorum;

(5) Having a business place, 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;

(7) Other conditions as stipulated by laws and administrative regulations and as stipulated by the State Council Securities Regulatory Authority approved by the State Council.