Recently, the legal opinion on private equity fund manager registration issued by Silkroad for Shaanxi Culture Fund Investment Management Co.,Ltd ("SCFIM") has been approved by the Asset Management Association of China ("AMAC"), which is the sign of successful registration of SCFIM as a private equity (“PE”) fund manager. With the assistance of Silkroad, SCFIM has also successfully completed filing with AMAC its private fund products. As a funds management platform wholly-owned by Shaanxi Cultural Industry Investment Holding (Group) Co., Ltd., SCFIM is the most influential enterprise conducting professional cultural industry investment management in Shaanxi. Assisting SCFIM with its private fund registration and filing, Mr. Li Mingye, a lawyer on the private fund formation team of Silkroad, believed that questions raised by AMAC signifying its growing concern about the PE fund and increasing rationality in the regulation. Silkroad's private fund formation team provides nationwide clients from our offices in Xi'an and Shenzhen with cost-effective legal services for RMB/USD denominated PE fund formation.