Wholly foreign-owned enterprises (WFOEs) that apply for the registration as private fund managers should meet the relevant criteria in the Instructions for Filling in the Forms for the Registration and Filing of Wholly and Partially Foreign-owned Private Securities Investment Fund Managers issued by the Asset Management Association of China.

Eligible private fund management companies can apply for the registration as public fund management companies in accordance with relevant laws and regulations including the Interim Provisions on the Management of Publicly Offered Securities Investment Funds by Asset Management Institutions and the Law of the People's Republic of China on Funds for Investment in Securities.

The wholly foreign-owned private fund management companies that engage in the business of private securities investment should comply with laws and regulations including the Law of the People's Republic of China on Funds for Investment in Securities, the Interim Measures for the Supervision and Administration of Funds for Investment in Securities, and the Measures for the Registration of Private Investment Fund Managers and the Filing of Private Investment Funds (Trial), and the use of their capital funds and CNY funds from the settlement of such funds should abide by the relevant rules of the State Administration of Foreign Exchange. Those that engage in the business of securities and futures within China should make independent investment decisions rather than give transaction orders through overseas institutions or systems.

Private fund managers that apply for setting up public fund management companies should follow relevant laws and regulations including the Law of the People's Republic of China on Funds for Investment in Securities. According to the Law of the People's Republic of China on Funds for Investment in Securities, the managers of public funds should be assumed by fund management companies or organizations certified by the securities regulatory authority of the State Council based on the relevant rules.

Private fund managers that apply for setting up public fund management companies should meet the following conditions and submit the required application materials to the China Securities Regulatory Commission: Article Thirteen and Article Thirty-six of the Law of the People's Republic of China on Funds for Investment in Securities; regulations in the Official Reply of the State Council on Issues Concerning Fund Management Companies Managing Publicly Offered Funds (Guo Han [2013] No.132); Article Six, Seven, Eight, Ten, Eleven, Fourteen, Fifteen, Sixteen, Thirty-eight, Thirty-nine, Forty-one and Forty-two of the Administrative Measures for Securities Investment Fund Management Companies; and regulations in the Provisions on Issues in Relation to Implementing the Administrative Measures for Securities Investment Fund Management Companies.

Private securities fund management companies that apply for engaging in the fund management business should meet the requirements set out in Article Five and Article Eight of the Interim Provisions on the Management of Publicly Offered Securities Investment Funds by Asset Management Institutions.

Wholly and partially foreign-owned private securities fund managers can log onto the official website of the Asset Management Association of China (www.amac.org.cn) and refer to the column of Registration and Filing System of Private Funds to learn about operation guidelines and relevant policies on private fund manager registration and private fund filing. For further information on private fund registration and filing, they can also follow the official WeChat account of the Asset Management Association of China, send emails to pf@amac.org.cn or call the national hotline of 400-017-8200.

The application of eligible private fund management companies for the registration as public fund management companies should be handled according to the Service Guidelines for Administrative Licensing Items-Approval for the Setting up of Public Fund Management Companies and the Eligibility of Public Fund Managers published on the official website of the China Securities Regulatory Commission (http://www.csrc.gov.cn).