Chapter I General Provisions Article 1 In order to standardize the sales activities of securities investment funds and promote the healthy development of the securities investment fund market, these Measures are formulated in accordance with the Securities Investment Fund Law and other relevant laws and administrative regulations. Article 2 The sale of securities investment funds (hereinafter referred to as funds) as mentioned in these Measures includes fund managers or other institutions entrusted by fund managers (hereinafter referred to as consignment agencies) to publicize and promote funds, sell fund shares, and handle fund share subscription and redemption. Article 3 Fund managers and consignment agencies engaged in fund sales activities shall abide by laws, administrative regulations and the provisions of China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission), and shall not harm the national interests, social interests and the legitimate rights and interests of investors. Article 4 Fund managers and consignment agencies engaged in fund sales activities shall abide by the provisions of fund contracts and fund consignment agreements, follow the principles of openness, fairness and impartiality, be honest and trustworthy, be diligent and conscientious, and abide by professional ethics and codes of conduct. Article 5 The China Securities Regulatory Commission and its dispatched offices shall supervise and manage fund sales activities in accordance with laws, administrative regulations and these Measures. Article 6 Fund trade associations shall conduct self-discipline management of fund sales activities in accordance with laws, administrative regulations, provisions of China Securities Regulatory Commission and self-discipline rules. Chapter II Fund Consignment Article 7 Fund sales shall be handled by fund managers; The fund manager may entrust other institutions that have obtained the qualification of fund consignment business to handle it on his behalf. An institution that has not obtained the qualification of fund agency business shall not accept the entrustment of the fund manager to handle the fund sales business on its behalf. Article 8 Commercial banks, securities companies, securities investment consulting institutions, professional fund sales institutions and other institutions stipulated by the China Securities Regulatory Commission may apply to the China Securities Regulatory Commission for the qualification of fund consignment business. Article 9 To apply for the qualification of fund agency business, a commercial bank shall meet the following conditions: (1) The capital adequacy ratio shall meet the relevant provisions of the banking regulatory authority of the State Council; (two) there is a department responsible for the fund consignment business. (3) It is in good financial condition, has a stable business standard, and has not been subjected to administrative punishment or criminal punishment for illegal acts in the last three years; (4) It has a sound corporate governance structure, internal control and risk management system, and has been effectively implemented. (5) Having a business place, security facilities and other facilities suitable for the fund consignment business; (6) It has safe and efficient technical facilities for fund sales, subscription and redemption, and the technical system of fund consignment business has been tested online and connected with the corresponding technical systems of fund managers, fund custodians and fund registration institutions, and the test results meet the standards set by the state; (7) Formulating a sound management system for fund consignment business, such as business process, professional ethics of sales personnel and emergency measures; (8) The department in charge of fund agency business of the company and its main branches has at least one-half of its employees, and the department manager has obtained the qualification of fund agency business, is familiar with fund agency business, and has been engaged in fund business for more than two years or securities finance business for more than five years; (9) Other conditions stipulated by the China Securities Regulatory Commission. Article 10 A securities company applying for the qualification of fund agency business shall meet the following conditions in addition to the provisions in Items (2) to (9) of Article 9 of these Measures: (1) Financial risk supervision indicators such as net capital meet the relevant provisions of the China Securities Regulatory Commission; (2) There has been no misappropriation of clients' assets or other acts that harm clients' interests in the last two years; (3) It is not being investigated by the regulatory authorities due to illegal acts, or it is being rectified; (4) There are no major changes or other major events such as litigation and arbitration that have affected or may affect the normal operation of the company. Article 11 To apply for the qualification of fund agency business, a securities investment consulting institution shall meet the following conditions in addition to the conditions stipulated in Items (2) to (9) of Article 9 and Items (3) and (4) of Article 10 of these Measures: (1) The registered capital shall not be less than 20 million yuan, and it must be paid-in monetary capital; (2) The senior management personnel have obtained the qualification of fund practice, are familiar with the fund consignment business, and have been engaged in fund business for more than two years or securities finance business for more than five years; (3) Having been engaged in securities investment consulting business for more than 3 complete fiscal years. (4) Failing to engage in securities trading as an agent for investors in the last three years. Article 12 To apply for the qualification of fund agency business, a professional fund sales institution shall meet the following conditions in addition to the conditions stipulated in Items (3) to (7) of Article 9, Items (3) to (4) of Article 10 and Items (1) to (2) of Article 11 of these Measures: (1) Having a qualified institution name, organization and operation mode. (2) The main investor is a legal person established according to law, has been operating continuously for more than three complete fiscal years, has a registered capital of not less than 30 million yuan, is in good financial condition, and has a sound business standard, and has not been subjected to administrative punishment or criminal punishment for illegal acts in the last three years; (3) Not less than 30 employees and not less than half of them have obtained the qualification for fund practice; (4) Other conditions stipulated by the China Securities Regulatory Commission. Thirteenth institutions applying for the qualification of fund agency business shall submit application materials in accordance with the provisions of the China Securities Regulatory Commission. During the application period, if the matters involved in the application materials change significantly, the applicant shall submit the updated materials to the China Securities Regulatory Commission within five working days from the date of the change. Article 14 The China Securities Regulatory Commission shall, in accordance with the provisions of the Administrative Licensing Law, accept the application for the qualification of fund consignment business, examine it and make a decision. Article 15 The China Securities Regulatory Commission may, according to the principle of prudent supervision, organize an expert review meeting to review the application for qualification of fund consignment business. Article 16 Where it is necessary to go through the registration of industrial and commercial change according to law, the applicant shall go through the registration formalities with the administrative department for industry and commerce in accordance with the relevant provisions after receiving the approval documents. Chapter III Fund Publicity and Promotion Materials Article 17 The fund publicity and promotion materials mentioned in these Measures refer to the information distributed or published to the public for the purpose of promoting the fund and widely available to the public, including: (1) publicly published materials; (two) leaflets, brochures, letters and other publicity materials for the public; (3) Posters and outdoor advertisements; (four) television, movies, radio, Internet and other audio-visual and communication materials; (5) Other materials as prescribed by the China Securities Regulatory Commission. Eighteenth fund managers and fund agencies to promote fund publicity materials, should be inspected by the inspector general of the fund manager in advance, issue compliance opinions, and report to the China Securities Regulatory Commission for the record. China Securities Regulatory Commission shall, within 20 working days from the date of receiving the filing materials, conduct a review according to law and issue a written opinion on whether there is any objection. Article 19 Fund publicity and promotion materials must be true and accurate, consistent with the fund contract and fund prospectus, and shall not have the following circumstances: (1) False records, misleading statements or major omissions; (2) Forecasting the securities investment performance of the fund. (3) making profits or bearing losses in violation of regulations; (4) Defaming funds raised or managed by other fund managers, fund custodians, fund consignment agencies or other fund managers; (five) exaggerated or one-sided publicity fund, illegal use of safety, guarantee, commitment, insurance, hedging, safety, high yield, no risk and other words that may make investors think there is no risk; (six) the recommendation of the unit or individual; (seven) other circumstances prohibited by the China Securities Regulatory Commission. Article 20 Fund publicity and promotion materials may publish the past performance of the Fund and other funds managed by the fund manager, except that the fund contract has not been effective for six months. If the fund publicity and promotion materials announce the past performance, if the fund contract has been in effect for more than six months but less than one year, the performance calculated since the date of the contract's entry into force shall be announced; If the fund contract comes into effect for more than one year but less than ten years, the performance of all complete fiscal years from the year when the contract comes into effect shall be announced, and if the publicity and promotion materials are announced in the second half of the year, the performance of the first half of that year shall also be announced; If the fund contract has been in force for more than ten years, the performance of the last ten complete fiscal years shall be announced. Article 21 The past performance of the Fund and other funds managed by the fund manager shall be published in the publicity and promotion materials of the Fund, and the following provisions shall be observed: (1) Calculate the performance data of the Fund in accordance with the provisions of relevant laws and administrative regulations or standards recognized by the industry; (2) The cited statistical data and materials shall be true and accurate, and the source shall be indicated, and unverified, verified or simulated data shall not be cited; (three) a true, accurate and reasonable statement of the performance of the fund and the management level of the fund manager; Fund performance data shall be reviewed by the fund custodian. Article 22 When the past performance of this fund and other funds managed by the fund manager is published in the fund promotion materials, the fund manager shall make a special statement that the past performance of this fund does not predict its future performance, and the performance of other funds managed by this fund manager does not constitute a guarantee for the performance of the new fund. Article 23 When comparing the performances of different funds in fund promotion materials, comparable data sources, statistical methods and comparison periods shall be used, and relevant data sources and statistical methods shall be fair, accurate and relevant. Twenty-fourth fund publicity materials with statistical charts, should be clear and accurate; If the evaluation result of the third-party professional organization is mentioned, the name and evaluation date of the third-party professional organization shall be listed. Article 25 Fund publicity and promotion materials shall contain clear and eye-catching risk warnings and warning words, which shall not be easily ignored by investors during reading, so as to remind investors to pay attention to investment risks, carefully read the fund contract and fund prospectus, and understand the specific situation of the fund. Article 26 If the publicity and promotion materials of the Fund contain the contents that the Fund has been approved by the China Securities Regulatory Commission, it shall be specially stated that the approval of the China Securities Regulatory Commission does not mean that the China Securities Regulatory Commission makes substantive judgments, suggestions or guarantees on the risks and benefits of the Fund. Chapter IV Fund Sales Expenses Article 27 A fund manager shall specify the items, conditions and methods of collecting sales expenses in the fund contract and prospectus, and specify the rate standard in the prospectus. Article 28 Fund managers may charge subscription fees when selling fund shares and raising funds, but the rate shall not exceed 5% of the subscription amount. Fund managers may charge subscription fees for the subscription of open-end fund shares, but the rate shall not exceed 5% of the subscription amount. The subscription fee and subscription fee can be collected at the time of fund share sale or subscription, or deducted from the redemption amount at the time of redemption. Twenty-ninth fund managers shall collect redemption fees when redeeming open-end fund shares, unless otherwise stipulated by the China Securities Regulatory Commission. The redemption rate shall not exceed 5% of the redemption amount of the fund share, and the balance of the redemption fee after deducting the handling fee shall not be less than 25% of the total redemption fee, which shall be included in the fund property. Article 30 Fund managers may apply different subscription and subscription rate standards according to the subscription and subscription amount of investors. Article 31 A fund manager may, according to the time limit for holding fund shares, apply different subscription and subscription rate standards to fund share holders who choose to pay subscription fees or subscription fees at the time of redemption. (excerpt)

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