When there are no suitable investment opportunities in the market, private equity funds will choose to keep short positions or hold lower positions. Short positions need to have the corresponding risk management ability, and they need to abide by the relevant regulatory provisions and the agreement in the fund contract. The CSRC requires all securities companies, public securities investment funds and other special designated institutions to operate in accordance with the "Relevant Matters on Further Strengthening the Risk Management of Stock Pledged Repurchase Transactions" and strictly control the balance of the lending scheme not to exceed 30% of the net value.