[Public Solicitation of Opinions on the Measures for the Management of Private Equity Fund Raising] On September 4, the China Securities Regulatory Commission is soliciting opinions on the "Measures for the Supervision and Management of Private Equity Fund Raising", aiming to further strengthen the supervision of private equity fund raising business activities. The "Administrative Measures" mention that private equity fund managers should raise funds themselves or entrust an institution with fund sales business qualifications to raise funds, and it is strictly prohibited to raise funds through other institutions or individuals. The new regulations clarify three aspects: first, clarify the identification criteria for qualified investors such as asset size, income level and investment experience. On the basis of respecting industry practices, some standards will be optimized based on regulatory guidance. At the same time, professional institutional investors and senior managers of specific institutions who meet certain conditions will be regarded as qualified investors, and appropriate differentiated arrangements will be given in terms of penetration verification, investment requirements, management arrangements, etc. The second is to strengthen the penetration supervision requirements and clarify that private equity fund managers and private equity fund sales agencies should penetrate the standards and number requirements for qualified investors. Third, for private equity funds that invest in special circumstances such as single targets, overseas assets, and over-the-counter derivatives, in order to prevent and control risks, higher requirements are put forward for natural person investors’ investment experience, household financial assets, and household financial net assets. (Reporter Lin Jian)