Legal analysis: 1, the full name of "small public offering" is "corporate bonds publicly issued to qualified investors", which is only two words different from the full name issued by Dagong. In the way of issuance, small public offering is the same as the current bills and corporate bonds of the association. Combined with the advantages of the exchange bond pledge library, it will be the mainstream trading bond variety of the exchange. 2. Applicable investors: qualified investors. It mainly includes various financial institutions and individuals with financial assets of more than 3 million. 3. Audit method: pre-examination by the Exchange and simplified audit by the CSRC. Judging from the current regulatory promotion, the main audit of small-scale public offering is basically delegated to the exchange, and the audit efficiency is expected to catch up with the association.
Legal basis: Article 13 of the Interim Measures for the Supervision and Administration of Private Investment Funds The following investors are regarded as qualified investors: 1, social security funds, enterprise annuities and other pension funds, charitable funds and other social welfare funds; 2. Investment plans established according to law and filed with fund industry associations; 3. Private fund managers and their employees who invest in the private funds they manage; 4. Other investors as stipulated by China Securities Regulatory Commission.