In China, any fund-raising activities must strictly abide by national laws and regulations, and fund-raising projects that have not been approved by the government are not allowed to operate. The fund-raising projects approved by the government are to protect the legitimate rights and interests of investors and maintain the stability of the financial market. If your project fails to be approved, we recommend that you review the project plan, complete the relevant procedures and materials in strict accordance with the requirements of laws and regulations, and resubmit your application. Do not operate unapproved fund-raising projects without authorization, so as not to violate the law and affect social order and financial security. We encourage all enterprises and individuals to carry out activities in accordance with the law and regulations, and jointly maintain a good market economy order.