Legal analysis: Yes, and as a practitioner, you can ignore the threshold of 1 10,000. Private fund managers and institutions engaged in private fund custody business (hereinafter referred to as private fund custodians) manage and use private fund property, institutions engaged in private fund sales business (hereinafter referred to as private fund sales institutions) and other private fund service institutions engaged in private fund service activities shall fulfill their duties and fulfill their obligations of honesty, credibility, prudence and diligence.

Legal basis: Interim Measures for the Supervision and Administration of Private Investment Funds

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.

Article 4 Private equity fund managers and institutions engaged in private equity fund custody business (hereinafter referred to as private equity fund custodians) manage and use private equity fund property, and institutions engaged in private equity fund sales business (hereinafter referred to as private equity fund sales institutions) and other private equity fund service institutions shall fulfill their duties and fulfill their obligations of honesty, credibility, prudence and diligence. Private equity fund practitioners shall abide by laws and administrative regulations, and abide by professional ethics and codes of conduct.