legal ground
"Measures for the Registration of Private Investment Fund Managers and Fund Filing (Trial)" Article 16 Professionals engaged in private equity fund business shall have the qualifications for private equity fund practice. Those who meet one of the following conditions can be recognized as private placement qualifications: (1) passing the private placement qualification examination organized by the fund industry association; (2) Engaged in investment management-related business in the last three years; (three) other circumstances identified by the fund industry association.