Chapter I General Provisions Article 1 These Measures are formulated in accordance with the Securities Investment Fund Law and other relevant laws and administrative regulations in order to standardize the operation activities of securities investment funds, protect the legitimate rights and interests of investors and promote the healthy development of the securities investment fund market. Article 2 These Measures shall apply to fund operation activities such as the raising of securities investment funds (hereinafter referred to as funds), the subscription and redemption of fund shares, the investment of fund property, the distribution of fund income, and the convening of fund share holders' meeting. Article 3 To engage in fund operation activities, one shall abide by laws, administrative regulations and the provisions of China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission), follow the principles of voluntariness, fairness, honesty and credibility, and shall not harm the national interests and social public interests. Article 4 The China Securities Regulatory Commission and its dispatched offices shall supervise and manage the fund operation activities in accordance with laws, administrative regulations, these Measures and the principle of prudent supervision. Article 5 Fund trade associations shall conduct self-discipline management of fund operation activities in accordance with laws, administrative regulations, provisions of China Securities Regulatory Commission and self-discipline rules. Chapter II Fund Raising Article 6 To apply for fund raising, the proposed fund manager and fund custodian shall meet the following conditions:

(1) The proposed fund manager is a legally established fund management company, and the proposed fund custodian is a commercial bank with fund custody qualification;

(2) Having fund managers and other business personnel who meet the requirements of the China Securities Regulatory Commission and are suitable for managing and hosting the funds to be raised;

(3) The fund's investment management, sales, registration, valuation and other business links have sound systems and standardized behaviors, and there is no situation that affects the normal operation of the fund, damages or may damage the legitimate rights and interests of fund share holders;

(4) It has not been subjected to administrative punishment or criminal punishment for illegal acts in the last year;

(5) It is not being investigated by the regulatory authorities due to illegal acts, or it is being rectified;

(6) There are no major changes that have or may adversely affect the operation of the fund, or other major events such as litigation and arbitration;

(7) There are no major operational risks such as imperfect corporate governance, chaotic operation and management, ineffective implementation of internal control and risk management systems, and deterioration of financial conditions;

(8) For the fund that was only allowed to be raised before being appointed as the fund manager, the fund contract has come into effect, or the raising period has expired, which cannot meet the conditions stipulated in Article 12 of these Measures, and it has been six months since the date of returning all the funds paid by the investors and their interest;

(nine) other conditions stipulated by the China Securities Regulatory Commission in accordance with the principle of prudent supervision. Article 7 To apply for raising funds, the funds to be raised shall meet the following conditions:

(1) Having a clear and lawful investment direction;

(2) Having a clear fund operation mode;

(3) Conforming to the provisions of the China Securities Regulatory Commission on the types of funds.

(4) It is different from the fund managed by the proposed fund manager;

(5) The draft legal documents such as the fund contract and prospectus comply with laws, administrative regulations and the provisions of the China Securities Regulatory Commission;

(6) The name of the fund indicates the types and investment characteristics of the fund, and there is no content that harms the interests of the state or society, deceives or misleads investors, or infringes upon the legitimate rights and interests of others;

(seven) other conditions stipulated by the China Securities Regulatory Commission in accordance with the principle of prudent supervision. Article 8 When applying for offering, a fund manager shall submit application materials in accordance with the Securities Investment Fund Law and the provisions of the China Securities Regulatory Commission.

During the application period, if the matters involved in the application materials change significantly, the fund manager shall submit the updated materials to the China Securities Regulatory Commission within five working days from the date of change. Article 9 The China Securities Regulatory Commission shall, in accordance with Article 39 of the Administrative Licensing Law and the Securities Investment Fund Law, accept the application for fund raising, examine it and make a decision. Article 10 According to the principle of prudent supervision, the China Securities Regulatory Commission may organize an expert review meeting to review the fund raising application. Article 11 The fund raising period shall not exceed three months from the date when the fund shares are sold. Article 12 Upon the expiration of the fund raising period, if the total amount of fund shares raised conforms to the provisions of Article 44 of the Securities Investment Fund Law and meets the following conditions, the fund manager shall go through the formalities of capital verification and fund filing in accordance with the provisions:

(a) the total number of shares raised by the fund is not less than 200 million shares, and the amount raised by the fund is not less than 200 million yuan;

(2) There shall be no less than 200 fund share holders. Article 13 The China Securities Regulatory Commission shall give a written confirmation within three working days from the date of receiving the capital verification report and fund filing materials from the fund manager; Since the date of written confirmation by China Securities Regulatory Commission, the fund filing procedures have been completed and the fund contract has come into effect.

The fund manager shall make an announcement the day after receiving the confirmation document from the China Securities Regulatory Commission. Article 14 Information disclosure fees, accountant fees, attorney fees and other expenses during the fund raising period shall not be charged to the fund property; If the fund collects subscription fees, it can be charged from the subscription fees. Chapter III Purchase and Redemption of Fund Shares Article 15 The fund contract of an open-end fund shall stipulate that the date and time for the fund manager to purchase and redeem the fund shares shall be specified in the prospectus.