First of all, private placement itself is a form of investment, and there is nothing wrong with private placement itself. In fact, private placement is to reduce some profit losses in the investment process, and at the same time give private placement operators a certain incentive mechanism, and finally achieve a win-win situation for investors and operators. However, the core of private placement is "benefit * * * sharing risk * *", and the corresponding investment feature is that investors must have a full understanding, understanding and recognition of investment projects, so that risks can be * *. Only in this way can it be called "private placement". However, many so-called "private investment" in the market do not fully explain the investment objectives or reveal risks. Investors' investment under shady circumstances actually violates the core characteristics of "private placement", and some of them are finally defined as "financial fraud" because some lawless elements cheat customers' trust and raise funds under the banner of private placement.

Secondly, there are many misunderstandings about "limited partnership". Many investors regard limited partnership as a financial investment model, even as a product name, which is completely wrong. Limited partnership is a form of company formation. There are three forms of private placement: trust system, company system and limited partnership system. "Limited partnership" is a form of company formation. Its advantage is that it is not as complicated as the company system and does not need to set up more posts and departments. Under the limited partnership system, all business activities can be carried out in accordance with the Articles of Association of the Limited Partnership Company. The limited partnership system is more favorable in tax than the company system, but it is limited to limited partnerships.

Therefore, limited partnership is only a form of investment organization and company registration, and the business license is issued by the industrial and commercial bureau, not a "regulatory license" issued by the regulatory authorities, not to mention the name of financial products;

Finally, there are no excellent companies and extensive success stories in the private equity field. At present, China's private placement includes: stock private placement, equity private placement, debt private placement, fixed private placement, mixed private placement and other investment forms. There are also hundreds of thousands of companies in the country that have performed well in the industry for many years. Large companies and brand companies, these leading companies in the industry have also won stable returns or even super high return on investment for private investors in various fields in the past 10 years. In the future, China may also produce "Buffett" in China and "Soros" in China. At present, the mixed market state of private equity industry does not represent the overall situation of the industry. Some honest, reliable and long-term private equity institutions deserve our attention and participation. For more information on private equity funds, please pay attention to the Xue treasurer's fund portfolio.