1. After accepting the application for fund raising, the China Securities Regulatory Commission will decide whether to organize a fund expert review meeting to review the application for fund raising according to the specific conditions of the fund to be raised.

For the fund raising application submitted to the fund expert review meeting, the review experts will independently express their review opinions around the investment management and risk control of the fund for the reference of the China Securities Regulatory Commission.

Two, the code of conduct, strong investment and research ability, good market evaluation of the fund management company to submit the application for fund raising, not submitted to the fund expert review meeting, except for the following circumstances:

(1) The fund management company has been established and operated for less than one year;

(2) The design of fund products is of great innovation;

(3) The design of fund products needs to be further improved, and it is necessary to refer to the evaluation opinions of the fund expert evaluation meeting;

(four) other circumstances that the China Securities Regulatory Commission considers should be submitted to the fund expert review meeting for review according to the principle of prudent supervision.

Three, the fund product design has a major innovation, the China Securities Regulatory Commission will give priority to the fund expert review and application materials review. There are major innovations in fund products. After the application for fund raising is approved by the China Securities Regulatory Commission, other fund management companies shall not copy or imitate it within the time limit stipulated by the China Securities Regulatory Commission.

4. Upon examination, if it is found that the fund raising application has a rough fund design scheme, unclear investment operation ideas or imperfect risk control measures, the fund management company that submitted the fund raising application shall be ordered to make major amendments in accordance with the procedures stipulated in Articles 24 and 25 of the Procedural Provisions. If it has been submitted to the fund expert review meeting, it shall also decide whether to submit it to the fund expert review meeting for re-review according to the revised specific circumstances.

Verb (abbreviation of verb) If the fund raising application reviewed by the fund expert review committee is revised and resubmitted, and the above problems still exist, the China Securities Regulatory Commission will not approve it and take relevant administrative supervision measures according to its specific conditions.

6. Lawyers and law firms that issue legal opinions and provide legal services for fund-raising applications shall abide by relevant regulations, earnestly perform their duties, check and verify relevant materials and facts, and ensure the authenticity, accuracy and completeness of the documents issued.