Legal analysis: time is up, and the number and total amount of funds raised meet the requirements. When the fund raising period expires, the closed-end fund shall meet the requirements that the total amount of fund shares raised reaches more than 80% of the approved scale and the number of fund share holders reaches more than 200; Open-end funds need to raise not less than 200 million shares, the amount raised is not less than 200 million yuan, and the fund share holders are not less than 200. The fund manager shall employ a statutory capital verification institution to conduct capital verification within 10 days from the expiration of the raising period. Submit the filing application and capital verification report to China Securities Regulatory Commission within 10 days from the date of receiving the capital verification report, and handle the fund filing procedures.

Legal basis: Article 502 of the Civil Code establishes a contract according to law, and the contract becomes effective upon its establishment, unless otherwise stipulated by law or agreed by the parties.

In accordance with the provisions of laws and administrative regulations, if the contract should go through the approval procedures, such provisions shall prevail. If the failure to go through the formalities such as approval affects the effectiveness of the contract, it will not affect the performance of the obligation clauses such as approval and the effectiveness of relevant clauses in the contract. If the party that should go through the formalities for approval fails to perform its obligations, the other party may require it to bear the responsibility for violating its obligations.

The modification, assignment and dissolution of a contract shall be subject to the provisions of laws and administrative regulations, and the provisions of the preceding paragraph shall apply and shall be subject to approval.

Article 508 of the Civil Code does not stipulate the validity of this part of the contract, and the relevant provisions of Chapter VI of Part I of this Law shall apply.