Securities and fund investment advisory business is a basic capital markets intermediary service. Securities and fund investment advisory business currently comprises securities investment advisory business, fund investment advisory business, and securities research report issuing business. Fund investment advisory business refers to services where (a) clients entrust an advisor to provide them with investment advice as agreed in the contracts regarding mutual funds and other investment products recognized by the China Securities Regulatory Commission ("CSRC"), and (b) an advisor assists clients to make investment decisions or makes transactions on behalf of clients.