Article 1 These Measures are formulated in accordance with the Charity Law of the People's Republic of China (hereinafter referred to as the Charity Law) and other laws and regulations in order to regulate the investment activities of charitable organizations, prevent the use risks of charitable property and promote the sustained and healthy development of charitable organizations. Article 2 These Measures shall apply to the investment activities of charitable organizations registered and recognized by the civil affairs departments of the people's governments at or above the county level. Article 3 A charitable organization shall aim at conducting charitable activities for the society, make full and efficient use of charitable property, and can conduct investment activities on the premise of ensuring that the annual expenditure of charitable activities meets the statutory requirements and the donated property is paid in full and on time.

Charitable organizations should follow the principles of legality, safety and effectiveness in their investment activities, and all the investment proceeds should be used for charitable purposes. Article 4 The investment activities mentioned in these Measures mainly include the following situations:

(1) directly purchasing asset management products issued by banks, trusts, securities, funds, futures, insurance asset management institutions, financial asset investment companies and other financial institutions;

(2) Direct equity investment through initiation, merger, equity participation, etc.;

(3) Entrusting the property to an institution supervised by the financial supervision and regulation department for investment. Article 5 The property that charitable organizations can use for investment is limited to non-limited assets and limited assets that do not need to be distributed temporarily during the investment period.

The property invested by the government accepted by charitable organizations and the property that is not allowed to be invested as stipulated in the donation agreement shall not be used for investment. Article 6 When investing in asset management products, charitable organizations should carefully select and purchase products that match their risk identification ability and risk-taking ability.

If a charitable organization directly makes equity investment, the business scope of the investee shall be related to the purpose and business scope of the charitable organization.

Charitable organizations should choose institutions with investment management qualifications, prudent management and high reputation in China to carry out entrusted investment. Seventh charitable organizations shall not engage in the following investment activities:

(1) buying and selling stocks directly;

(2) directly purchasing commodities and financial derivatives;

(3) Investing in life insurance products;

(4) Providing loans to individuals and enterprises in the name of investment;

(five) investment that does not conform to the national industrial policy;

(6) Investments that may make the Organization bear unlimited liability;

(7) investments that violate the purpose of the organization and may damage its reputation;

(eight) illegal fund-raising and other activities prohibited by national laws and regulations. Article 8 A charitable organization shall stipulate the following contents in its financial and asset management system:

(a) the basic principles of investment;

(2) investment decision-making procedures and management processes;

(3) Relevant responsibilities of decision-making bodies, executive bodies and supervision bodies in investment activities;

(4) Negative list of investment;

(5) Major investment standards;

(6) Control degree of investment risk management;

(7) Mechanism for suspending, terminating or withdrawing from investment activities;

(eight) the accountability system for illegal investment. Article 9 The financial and asset management systems and major investment plans of charitable organizations shall be adopted by more than two thirds of the members of the decision-making bodies. Article 10 Sponsors, major donors, responsible persons, directors, directors' source units and other individuals or organizations that have control, domination or significant influence on charitable organizations shall not use their relationships to harm the interests of charitable organizations when their interests are related to the investment behavior of charitable organizations. Article 11 A charitable organization shall recover the due principal and income in a timely manner, and make timely accounting in accordance with laws and regulations. Twelfth charitable organizations should establish special files for investment activities, and keep information such as investment decision-making, implementation and management completely. Special files should be kept for at least 20 years. Thirteenth charitable organizations should establish a reasonable stop-loss mechanism according to the risk level of investment activities and the degree of losses they can bear.

Charitable organizations can establish a risk reserve system. Article 14 When engaging in investment activities, the responsible persons, directors and staff of charitable organizations shall abide by the provisions of laws, regulations and articles of association, and strictly perform the obligations of loyalty, prudence and diligence.

If charitable organizations violate laws and regulations when carrying out investment activities, resulting in property losses of charitable organizations, relevant personnel shall bear corresponding responsibilities. Article 15 The responsible persons and staff members of charitable organizations may not take part-time jobs or receive remuneration in the enterprises invested by charitable organizations, but they may attend the shareholders' meeting and the board of directors of the invested enterprises as shareholders' representatives, directors or supervisors entrusted by charitable organizations. Sixteenth civil affairs departments can ask charitable organizations to explain investment activities, risk control, internal management and other matters, and can conduct interviews when necessary. Seventeenth charitable organizations shall not use their property for investment, and the civil affairs department shall punish them in accordance with the relevant provisions of Article 99 of the Charity Law. In violation of the provisions of these measures, the civil affairs department may give a warning and order it to make corrections within a time limit. Article 18 The financial and asset management systems and major investments of charitable organizations shall be open to the public according to law and subject to social supervision.