Based on “similar business and same standards”, the “Measures” unify and clarify the basic principles, responsibilities and obligations, common content and internal management requirements of the three types of product information disclosure, and enhance regulatory consistency. At the same time, objective differences such as the market positioning and customer base of the three types of products are fully respected, and targeted arrangements are made. On the one hand, distinguish between public and private equity product requirements. Considering that public equity products are aimed at an unspecified general public, the overall investor threshold, expertise, and risk tolerance are relatively low. The overall requirements for disclosure of information are stricter, and there is more disclosure content to enhance transparency; for private equity products, refer to peer supervision practices, and contract agreements are respected in addition to basic disclosure requirements. For example, public offering product information should be disclosed at least through the industry's unified information disclosure channel, and at the same time disclosed through mainstream national financial media or other information disclosure channels in accordance with agreements with investors. However, information on private equity products can be disclosed through information disclosure channels agreed with investors in accordance with regulatory requirements. On the other hand, establish self-regulatory standards for information disclosure for each of the three types of products. On the premise of following the general principles and basic requirements of information disclosure, the China Trust Industry Association and the China Banking and Insurance Asset Management Association shall, together with China Trust Registration Co., Ltd., Banking Financial Registration and Custody Center Co., Ltd., and China Insurance Asset Registration and Trading System Co., Ltd. make detailed regulations based on the characteristics of each of the three types of products to form a “1+3” information disclosure rule system.

Based on “similar business and same standards”, the “Measures” unify and clarify the basic principles, responsibilities and obligations, common content and internal management requirements of the three types of product information disclosure, and enhance regulatory consistency. At the same time, objective differences such as the market positioning and customer base of the three types of products are fully respected, and targeted arrangements are made. On the one hand, distinguish between public and private equity product requirements. Considering that public equity products are aimed at an unspecified general public, the overall investor threshold, expertise, and risk tolerance are relatively low. The overall requirements for disclosure of information are stricter, and there is more disclosure content to enhance transparency; for private equity products, refer to peer supervision practices, and contract agreements are respected in addition to basic disclosure requirements. For example, public offering product information should be disclosed at least through the industry's unified information disclosure channel, and at the same time disclosed through mainstream national financial media or other information disclosure channels in accordance with agreements with investors. However, information on private equity products can be disclosed through information disclosure channels agreed with investors in accordance with regulatory requirements. On the other hand, establish self-regulatory standards for information disclosure for each of the three types of products. On the premise of following the general principles and basic requirements of information disclosure, the China Trust Industry Association and the China Banking and Insurance Asset Management Association shall, together with China Trust Registration Co., Ltd., Banking Financial Registration and Custody Center Co., Ltd., and China Insurance Asset Registration and Trading System Co., Ltd. make detailed regulations based on the characteristics of each of the three types of products to form a “1+3” information disclosure rule system.