The scope includes: shares of unlisted companies, shares of listed companies that are not publicly issued or traded, convertible bonds, market-oriented and legalized debt-to-equity swaps, shares of equity funds and other assets recognized by China Securities Regulatory Commission.

In addition to the well-known shares of unlisted companies, this time it also clarified a number of measures taken by the CSRC to encourage private equity investment funds to participate in the capital market, and officially included the fixed-income convertible bonds of listed companies into the scope of private equity investment.

At the same time, it has increased the special asset of market-oriented legal debt-to-equity swap. The share of equity funds is mainly the investment target of equity FOF.

In addition, M&A funds, real estate funds and infrastructure funds often mentioned in the industry also belong to the category of equity investment funds. The classification of equity investment funds in Description of Filing and Description of Types is complicated and confusing, specific to the types of funds.