Asset Management Association of China, Measures for the Registration and Record Filing of Private Investment Funds (Draft for Comment)

Issued: December 31, 2022

Main contents： Where its financial position does not satisfy the requirements for a going concern and the paid-in monetary capital of a private fund manager is less than RMB 10 million or the equivalent in a freely convertible currency, it may not serve as a private fund manager. Where it is provided otherwise in respect of private fund managers that exclusively manage venture capital funds, such provisions shall be complied with (Article 8).

The equity, property share or actual control held by the controlling shareholder, de facto controller or general partner of a private fund manager may not be transferred within three years from the date of registration, unless otherwise provided (Article 20).