China Banking and Insurance Regulatory Commission: Financial institutions are not allowed to promote private equity to unspecified individuals through official websites, apps, etc.

The China Banking and Insurance Regulatory Commission released the "Management Measures for the Suitability of Financial Institution Products", which explicitly requires financial institutions selling private equity products to clearly define the criteria for identifying investors of private equity products in accordance with relevant laws and regulatory systems, and to evaluate investors' asset size, income level, investment experience, risk tolerance, etc. in an effective way, and to sell them in a non-public manner. It is not allowed to lower the investment threshold by splitting product shares or income rights, and it is not allowed to promote private equity products to unspecified persons through public media, financial institution branches, official websites, internet applications or other means.