Private placement fund (hereinafter referred to as private placement fund) refers to an investment fund established by raising funds from investors in a private way within the People's Republic of China. The investment of private equity fund property includes buying and selling stocks, equity, bonds, futures, options, fund shares and other investment targets agreed in investment contracts.

types of private investment funds: mainly divided into private equity investment funds, private equity investment funds and asset allocation private equity funds. Private equity funds mainly invest in publicly traded shares, bonds, futures, options, fund shares and other assets stipulated by the China Securities Regulatory Commission; Private equity investment funds mainly invest in the equity of unlisted enterprises, the non-public offering or trading stocks of listed companies, and other assets stipulated by the China Securities Regulatory Commission; Asset allocation private equity funds mainly adopt the investment mode of funds in funds, and mainly invest in private equity investment funds and private equity investment funds.