Private equity funds shall raise funds from qualified investors in a private way, and shall not raise funds publicly or in disguised form. It is not allowed to publicize and promote to unspecified objects through public media such as newspapers, radio, television and the Internet, or lectures, reports, analysis meetings and notices, leaflets, SMS, WeChat, blogs and emails.

Legal basis: Interim Measures for the Supervision and Administration of Private Investment Funds in People's Republic of China (PRC) Article 1 In order to standardize the activities of private investment funds, protect the legitimate rights and interests of investors and related parties, and promote the healthy development of the private investment fund industry, these Measures are formulated in accordance with the Securities Investment Fund Law and Several Opinions of the State Council on Further Promoting the Healthy Development of the Capital Market.