Clarify the differentiated arrangement, enhance disclosure penetration, and upgrade the supervision of private equity fund disclosures.

The private equity industry with a scale of over 22 trillion yuan is welcoming regulatory upgrades. Recently, the China Securities Regulatory Commission issued the "Administrative Measures for the Supervision and Management of Private Investment Funds Information Disclosure", which will be implemented from September 1, 2026. The contents cover basic requirements for private fund information disclosure, regular reports, interim reports, liquidation reports, information disclosure affairs management, supervision and management, and legal responsibilities, clarifying the information disclosure responsibilities of various market entities. Guotai Junan Securities stated, "As the first supporting administrative regulation of the 'Regulations on the Supervision and Management of Private Investment Funds', the measures establish a sound system for private fund information disclosure, which is of great significance for enhancing industry transparency and standardization levels." "The measures have made institutional breakthroughs in many aspects," "unveiling the 'black box' of investment assets," "balancing standardization and efficiency through differentiated arrangements," "taking the private fund information disclosure system construction to a new level,"... Evaluations from many industry insiders.