Proof of income is a debt financing tool. Refers to the securities issued by securities companies according to these measures, and the repayment of principal and income is related to specific objects. Specific targets include, but are not limited to, currency interest rates, prices or indices of basic commodities and securities.

Where a securities company issues debt financing instruments in a non-public way, it shall report to China Securities Association for filing and management within 5 working days after issuance. Where laws, administrative regulations and the China Securities Regulatory Commission provide otherwise, such provisions shall prevail.

Securities companies issuing debt financing instruments privately shall issue and transfer them to qualified investors, and the number of investors shall not exceed 200. Where laws, administrative regulations and the China Securities Regulatory Commission provide otherwise, such provisions shall prevail.

The income certificate issued by the real estate trust fund you mentioned should be similar to the income certificate issued by the securities company.