CSRC: Firmly remove all private fund managers that do not meet the requirements

The spokesperson of the China Securities Regulatory Commission answers questions on the State Council General Office's guidance on strengthening supervision, preventing risks, and promoting the high-quality development of private equity funds. We will prudently handle risks, resolutely remove various private fund managers that do not meet requirements, take multiple measures to prevent other institutions from illegally operating under the name of private equity funds. We will strengthen information sharing and situation reporting, conduct risk assessments, refine the division of responsibilities for resolving and disposing of risks in private equity funds at the central and local levels, strengthen cooperation, and leverage collective efforts. We will promote standardized development, urge private equity fund managers to improve internal control and risk management, and promote standardized operations. We will enhance industry self-discipline and actively utilize the market oversight role of intermediary service agencies. We will create a favorable environment for implementing national strategies for private equity and venture capital funds, and guide private securities funds to establish long-term and value investment philosophies.