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Can middle-level employees of state-owned enterprises hold private equity funds?

Yes.

Investment is a personal behavior and is allowed, but it is not allowed to work part-time or misappropriate public funds. Anyone who commits corruption, solicits bribes, accepts bribes, offers bribes, introduces bribes, embezzles public funds, uses his or her position to seek personal gain for himself or others, or has unidentified sources of huge amounts of property and other violations of integrity disciplines will be given a demerit or a major demerit.

On July 11, 2014, the China Securities Regulatory Commission officially announced the "Interim Measures for the Supervision and Administration of Private Investment Funds" with clear provisions for qualified investors in a separate chapter. It is clarified that the amount of investors in private equity funds cannot be less than 1 million yuan.