1. According to the different stages of issuance, the issuance of fund shares can be divided into initial issuance and expanded issuance, in which the initial issuance refers to the initial issuance when the fund is established. Subscription refers to the funds increased to expand the fund after its establishment.

2. According to the scope of the issuer, it can be divided into private placement and public offering. Among them, private placement means that the issuer sells the issued fund shares directly to investors, which saves the participation of underwriters. Public offering refers to the way in which the underwriting institution underwrites the fund shares, publicly issues the prospectus and publicly sells the fund shares.

The issuance of fund shares is the behavior of fund management companies to sell fund shares to the public in accordance with legal conditions and procedures for the purpose of raising entrusted funds and conducting investment management.