27 years ago today, March 23, 1998 (February 25, 1998 in the lunar calendar), China issued the first batch of securities investment funds. On March 23, 1998, the long-awaited securities investment funds surfaced. Kaiyuan Securities Investment Fund and Jintai Securities Investment Fund were publicly issued online on the stock exchange. Securities investment funds are a collective securities investment method that shares benefits and risks. In foreign countries, funds have become a popular investment and financial management tool. For example, 37% of households in the United States invest in funds. The fund allows investors to use expert financial management to diversify investment risks and cultivate rational institutional investors. my country's securities investment funds were approved and established in accordance with the Interim Measures for the Management of Securities Investment Funds. Both newly established investment funds are contract-type closed-end, with a duration of 15 years, and an issuance scale of RMB 2 billion each. Fund assets 20% are invested in treasury bonds, and 80% are invested in tradable stocks publicly issued and listed in accordance with the law in China.