Legal basis: Article 13 of the Securities Investment Fund Law of People's Republic of China (PRC) * * To establish a fund management company that manages publicly offered funds, it shall meet the following conditions and be approved by the securities regulatory authority of the State Council: (1) It has articles of association that conform to this Law and the Company Law of People's Republic of China (PRC); (2) The registered capital shall not be less than 1 billion yuan, and it must be paid-in monetary capital.