Does the fund-raising contract have legal effect?

The fund-raising contract is essentially a private lending contract, which is a contract signed with a fund-raising company as a legal person, that is, a contract between individuals. Therefore, fund-raisers and fund-raising companies are private lending relationships, so this lending relationship is legal, legally binding and protected by law. Article 467 of the Civil Code of People's Republic of China (PRC) If there is no express provision in this law or other laws, the provisions of the general provisions of this chapter shall apply, and the provisions of the most similar contract in this chapter or other laws may be applied by reference. Chinese-foreign joint venture contracts, Chinese-foreign cooperative operation contracts and Chinese-foreign cooperative exploration and development contracts in People's Republic of China (PRC) shall be governed by the laws of People's Republic of China (PRC).