With the approval of China Securities Regulatory Commission, southern fund Management Co., Ltd. was formally established on March 6 1998, becoming one of the first batch of standardized fund management companies in China. This event marks that China has entered the "new fund era", that is, the development stage of fund industry with standardized management and supervision. The establishment of southern fund laid a foundation for the development of China's fund industry and provided investors with more choices and opportunities. Therefore, it is certain that the establishment of southern fund is the beginning of the new fund era in China.