A fund management company refers to a company established in accordance with relevant laws and regulations to manage fund operation activities such as fund raising, fund share subscription and redemption, fund property investment and income distribution.

According to the provisions of the Securities Investment Fund Law, the establishment of a fund management company shall meet the following conditions:

1. It has articles of association that comply with the provisions of the Securities Investment Fund Law and the Company Law;

2. The registered capital is not less than RMB 654.38 billion, and it must be paid-in monetary capital;

3. The major shareholder has good business performance and social reputation in securities business, securities investment consulting, trust asset management or other financial asset management, has no illegal record in the last three years, and has a registered capital of not less than 300 million yuan;

4. The number of personnel who have obtained the qualification for fund practice has reached a quorum;

5. Having business premises, safety precautions and other facilities related to the fund management business that meet the requirements;

6. Have a sound internal audit monitoring system and risk control system;

7. Other conditions stipulated by laws and administrative regulations and approved by the State Council Securities Regulatory Authority.