On April 22, sponsored by the China Securities Journal, the "8th China Private Placement Gold Bull Awards Presentation Ceremony and Forum" was held in Shenzhen. Ge Wei, chairman, party secretary, president of China Fortune Media Group and chairman and party secretary of China Securities Journal Co. Ltd., said that since the implementation of the registration system in 2014, the number of private placement fund management institutions have surged to more than 18,000, overtaking public placement funds on a total scale, worth over RMB 11 trillion, and have become an important force in China's capital market.