Private equity funds adopt the principles of moderate supervision and bottom line supervision. China Securities Regulatory Commission conducts administrative supervision on private equity funds in accordance with the Securities Investment Fund Law and the Interim Measures for the Supervision and Administration of Private Equity Funds, and China Asset Management Association (hereinafter referred to as the Association) conducts self-discipline management on its member institutions in accordance with self-discipline rules.

The Securities Investment Fund Law and the Interim Measures for the Supervision and Administration of Private Investment Funds stipulate that private fund managers should apply to the association for registration, and after all kinds of private funds are raised, they should go through the filing procedures with the association. The registration and filing of private equity funds does not constitute the recognition of the investment ability and continuous compliance of private equity fund managers; Not as a guarantee for the safety of fund property.

In the market access link, China Securities Regulatory Commission does not pre-approve private fund managers and private funds, but conducts industry information statistics, risk monitoring and necessary inspections according to the association registration information; In the fund custody link, it is not mandatory to manage the fund property; In the information disclosure link, it is not required to disclose information publicly, but it is necessary to disclose major issues and other matters agreed in the fund contract, articles of association or partnership agreement to investors; In the industry self-discipline link, give full play to the role of the association, carry out statistical monitoring and dispute mediation, and realize the self-management of members by formulating industry self-discipline rules.