Unless the fund sales organization is a bank and is supervised by the CBRC, it may need the approval of the CBRC.

In addition, filing and approval are two different things. Filing means a kind of registration, and approval means an access.

Asset management companies sell PE products of private equity trust, first of all, it depends on whether the asset management company itself has supervision. If not, then it depends on whether the products on consignment are regulated, such as private placement. There is no supervision at present, so it is no problem for you to sell private equity. Trust products? Because the trust company is supervised by the CBRC, you have to ask the CBRC.