Legal analysis: the regulatory authorities set the investment threshold of private equity funds in consideration of the risk tolerance of private equity investors. Units and individuals that invest in private equity funds with an amount of not less than 6,543,800 yuan and meet the following relevant standards: units with net assets of not less than 6,543,800 yuan, financial assets of not less than 3 million yuan or average annual income of not less than 500,000 yuan in the last three years.

Legal basis: People's Republic of China (PRC) Securities Investment Fund Law.

Article 2 The term "private investment fund" as mentioned in these Measures refers to an investment fund established by private offering from investors within the territory of People's Republic of China (PRC).

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.

These Measures shall apply to the registration, fund raising and investment operation of companies or partnerships established for the purpose of investing in private equity funds and assets managed by fund managers or general partners.

These Measures shall apply to securities companies, fund management companies, futures companies and their subsidiaries engaged in private equity fund business. Where other laws and regulations and the relevant provisions of China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) provide otherwise for the above-mentioned institutions to engage in private equity fund business, such provisions shall apply.

Article 3 Private equity fund business shall follow the principles of voluntariness, fairness, honesty and credibility, safeguard the legitimate rights and interests of investors, and shall not harm the national and social public interests.