On October 29th, 2065438+021KLOC-0/0, the CSRC promulgated the Interim Provisions on the Management of Subsidiaries of Securities Investment Fund Management Companies, which is considered by the industry that China's wealth management market has entered the era of pan-asset management. The core of this regulation is that the CSRC allows Public Offering of Fund companies to manage the assets of specific customers by setting up fund subsidiaries, including shares, creditor's rights and other property rights that have not been transferred through the stock exchange. Simply put, many businesses monopolized by trusts in the past, such as real estate financing, easy government infrastructure construction, industrial and commercial enterprise financing, etc., can be met by fund subsidiaries by issuing asset management plans. In the past, this type was basically dominated by trusts and banks, and was supervised by the China Banking Regulatory Commission. After the publication of this article, fund companies supervised by the CSRC can also carry out it.