fund liabilities refer to the liabilities formed during the operation and financing activities of the fund, which correspond to the fund assets, and the fund liabilities shall be calculated on a daily basis. If it is impossible to calculate the fund liabilities and the total net value in this way under special circumstances, the fund manager shall handle it according to the regulations of the corresponding authorities. The contents of fund liabilities mainly include unpaid remuneration payable to the custodian or manager and other payables related to taxes as stipulated in the fund contract until the calculation date.

fund assets refer to the total value of assets formed by fund managers in the process of operating fund capital, mainly including fund capital, loans, cash and bank deposits.