If a currency-related fund is established, it must be approved by the relevant competent department of the local government, and the filing at the next higher level is legal, otherwise it will be the same as illegal fund-raising.

Because the state has very strict supervision over financial and non-governmental organizations. This belongs to a private fund-raising organization. Therefore, at least take the materials such as establishment conditions, management, fund raising, scope of use, supervision and articles of association to the local civil affairs bureau for approval and registration, and obtain legal qualifications before opening an account, and file with the banking regulatory bureau and the civil affairs bureau at the next higher level.

After the establishment, it can't be managed by the finance department, let alone by other departments of the company, but a fund management team should be established, which must be reflected in the establishment materials.