公开募集证券投资基金

投资者教育工作指引（试行）

Guidelines for Investor

 Education Activities of Publicly Offered 

Securities Investment Funds (Trial Implementation) 

第一条 为进一步引导和规范公开募集证券投资基金（以下简称公募基金）管理人和销售机构的投资者教育工作，保护投资者合法权益，提升国民金融素养，促进公募基金行业的高质量发展，中国证券投资基金业协会（以下简称协会）根据《证券投资基金法》、中国证监会相关规定，制定本指引。

I. To further guide and standardize the investor education activities of managers of publicly offered securities investment funds (hereinafter referred to as “public funds”) and fund distributors, to protect the legal rights and interests of investors, to enhance the financial literacy of the nation’s citizens, and to promote the high-quality development of the public fund industry, the Asset Management Association of China (hereinafter referred to as “AMAC”) has formulated the Guidelines in accordance with the Securities Investment Fund Law of the PRC and relevant regulations of the China Securities Regulatory Commission (hereinafter referred to as “the CSRC”).

第二条 本指引适用于公募基金管理人和取得公募基金销售业务资格的协会会员（以下简称销售机构）开展投资者教育活动。

II. The Guidelines apply to investor education activities conducted by public fund managers and members of AMAC who have obtained qualifications for the public fund distribution business (hereinafter referred to as “fund distributors”).

第三条 本指引所称投资者教育，是指公募基金管理人和销售机构面向投资者开展宣传基金政策法规、普及基金知识、揭示投资风险、说明投资者权利义务、传导理性投资理念、引导投资者依法维权等活动。

III. For the purpose of the Guidelines, “investor education” refers to the activities conducted by public fund managers and fund distributors for fund investors, including communicating fund-related policies, laws and regulations, popularizing fund-related knowledge, warning of investment-related risks, clarifying investors’ rights and obligations, conveying the rational investment philosophy, and guiding investors to protect their legal rights in accordance with legal requirements.

第四条 投资者教育工作的目标包括：

IV. The objectives of investor education include:

（一） 帮助投资者增强投资认知：了解基金基础知识及相关法律法规等；

(i) Helping investors better understand investing: providing investors with a better understanding of fund-related knowledge and relevant laws and regulations.

（二） 帮助投资者提高投资技能：增强风险识别和防范能力，匹配适合自己的产品和策略，积极维护自身合法权益等；

(ii) Helping investors improve their investment abilities: improving investors’ ability to identify and guard against risks, select products and strategies that meet their needs, and actively protect their legal rights and interests.

（三） 帮助投资者健全投资理念：全面提升国民投资理财素养，树立长期投资、理性投资理念等。

(iii) Helping investors develop a sound investment philosophy: improving the overall investment and wealth management literacy of the nation’s citizens so that they can establish the concept of long-term investment and rational investment.

第五条 投资者教育工作应当遵循以下原则：

V. The following principles should be followed in conducting investor education activities:

（一） 规范性：提供规范、专业的知识信息，符合知识产权保护有关规定，符合监管导向、公序良俗，避免过度娱乐化；

(i) Principle of Compliance: Investor education should include standard, professional information and knowledge that are consistent with the relevant provisions of intellectual property protection, consistent with regulatory guidelines, and consistent with public order and moral conventions. It should not be overly entertaining.

（二） 中立性：不以宣传推销特定机构、特定产品、特定基金经理为目的，不构成具体投资建议；

(ii) Principle of Neutrality: Investor education is not intended to promote certain company, product or fund portfolio manager, and does not constitute specific investment advice.

（三） 有效性：应当结合投资者关切和行业发展，表达言简意赅、语言通俗易懂、方式喜闻乐见，提升与投资者双向互动的质量；

(iii) Principle of Effectiveness: Investor education should address the practical needs of investors in the context of the overall development of the industry; it should be conducted in plain language that is easy to understand and at the same time appealing in presentation so as to enhance the quality of interaction with investors.

（四） 普惠性：投资者教育应当坚持面向社会公众，为各类投资者提供所需的教育服务；

(iv) Principle of Inclusiveness: Investor education should be directed to the general public and should be designed to meet the needs of all types of investors.

（五） 针对性：面向不同类别的受众群体提供适合其认知水平和需要的知识内容，尤其是做好普通投资者的教育服务工作；

(v) Principle of Relevance: Investor education must be relevant to investors with different levels of education and different needs, and in particular to ordinary investors.

（六） 长期性：普及教育与专项教育相结合，将投资者教育有机融入为投资者提供服务的过程中，持之以恒，长期开展。

(vi) Long-term Principle: Investor education should include both general education and customized education and should be integrated into the entire process of the investor service relationship so as to be regular and continuous.

第六条 公募基金管理人和销售机构应当按照中国证监会及协会要求，结合自身特点，开展内容丰富、形式多样的投资者教育工作。针对以下领域培养投资者的基金投资素养：

VI. Public fund managers and fund distributors should base their investor education activities on the requirements of the CSRC and AMAC and their own practical situations. Investor education activities may be conducted in different forms and include a wide range of contents. The following areas should be given priority in order to cultivate fund investors:

(一) 投资理念：认知风险与收益的关系，科学开展资产配置；坚持长期投资、理性投资，避免频繁申赎、追涨杀跌；树立社会大众养老理财意识，培育成熟养老金融理念；

(i) Investment Philosophy: Investors are to be educated to understand the relationship between risk and return and to conduct asset allocation using scientific approaches; Investors are educated to understand the benefits of long-term investment and rational investment instead of frequent trading and buying at high price and selling at loss; It is important for the general public to recognize the idea of financial planning for retirement and to establish mature philosophy of investing for retirement.

(二) 投资知识：基金相关法律法规，产品类型、持仓结构、风险特征、交易费用等基金产品特点；

(ii) Investment Knowledge: Investors are to be educated on fund-related laws and regulations, as well as different product types, holding structures, risk profiles, transaction costs and other fund-related knowledge.

(三) 交易流程：基金账户开立、认购、申购、赎回及分红等业务流程；

(iii) Trading Procedures: Investors are to be educated on the process of investing in funds, including how to open a fund account, how to subscribe to funds, how to purchase and redeem funds, and how fund dividends are distributed.

(四) 持有基金：基金账户持仓、净值等信息披露查询方式，持续追踪基金表现；

(iv) Fund Holdings: Investors are to be educated on how and where to find information about their fund holdings in their investment accounts, the net asset value of their funds and other disclosures and are able to monitor the performance of their funds on a regular basis.

(五) 投资者权利和义务：投资者权利行使、投诉等维权渠道与方法，在“卖者尽责”的前提下投资者应当履行的“买者自负”义务；

(v) Investor Rights and Responsibilities: Investors are to be educated on how and where they can exercise their rights or make complaints to protect their interests. Investors should be educated to understand that on the premises that “the seller has fulfilled duties” to conduct due diligence on the funds it offers, “investors are responsible” for the risks associated with their purchase decision.

(六) 投资行为偏差：可能影响投资者投资决策的心理或认知偏差；

(vi) Investment Behavioral Biases: Investors are to be educated to understand the emotional biases or cognitive errors that may influence their investment decisions.

(七) 防范涉基金领域的金融诈骗：非法证券期货经营活动以及非法集资的典型特征、防范措施和案例，反洗钱，投资者个人信息安全保护。

(vii) Avoidance of financial fraud in fund-related business: Investors are to be informed about illegal activities in securities and futures business, illegal fundraising cases, their typical characteristics, and preventive measures against those activities; investor education on anti-money laundering and personal information protection is equally important.

公募基金管理人和销售机构可以根据自身投资者教育工作开展情况，并结合市场变化，及时补充和调整投资者教育内容，确保投资者教育内容的时效性。

Depending on the practicalities of implementing investor education and subject to market developments, public fund managers and fund distributors may supplement and update their educational materials in a timely manner to ensure that their investor education information is current.

第七条 公募基金管理人和销售机构应当积极创新，通过自主运营或非自主运营的渠道及平台，搭建投教宣传多媒体矩阵。

VII. Public fund managers and fund distributors are encouraged to be proactive and innovative in building a multi-media matrix of investor education activities, either through proprietary or non-proprietary channels and platforms.

自主运营渠道及平台包括但不限于：

The online financial and economic forums and publishing platforms of new digital media providers.

(一) 公司官方网站、手机APP、微信公众号、微信小程序、微博及其他社交媒体平台；

(i) The official website, mobile applications, official WeChat accounts, WeChat applets, Weibo and other social media accounts of public fund managers and fund distributors.

(二) 实体及互联网投资者教育专区；

(ii) Dedicated areas for investor education in their physical stores and on their website.

(三) 面向投资者的客服电话、短信、邮件等；

(iii)  Customer service call centers, text messaging services, and e-mails accounts operated directly by public fund managers and fund distributors for investor engagement.

(四) 经营场所的公告栏、宣传手册等。

(iv) Bulletin boards, brochures and the like on the premises of public fund managers and fund distributors.

非自主运营渠道及平台包括但不限于：

Non-proprietary channels and platforms include, but are not limited to, the following:

(一) 财经交流社区、互联网平台等新媒体传播渠道；

(i) The online financial and economic forums and publishing platforms of new digital media providers.

(二) 电视、广播、报刊、户外媒体等大众媒体传播渠道；

(ii) Such mass media communication channels as television, radio, newspapers and outdoor media.

(三) 学校、社区、企业等重点渠道。

(iii) Key channel groups such as schools, local communities and enterprises.

公募基金管理人和销售机构可结合自身优势和特点，自主选取传播渠道开展投资者教育工作。鼓励公募基金管理人和销售机构走进三四线城市学校、社区、企业等开展投资者教育活动。

Public fund managers and fund distributors may choose the appropriate communication channels to conduct their investor education activities according to their own advantages and unique characteristics. Public fund managers and fund distributors are encouraged to reach out to schools, local communities and enterprises in third and fourth-tier cities to conduct investor education activities.

第八条 鼓励公募基金管理人和销售机构积极向行业机构共享制作的投教产品，利用多重渠道传播行业其他机构制作的优秀投教产品。

VIII. Public fund managers and fund distributors are encouraged to proactively share their investment education materials with their industry peers and, in the meantime, to include quality investment education materials produced by other organizations in their multi-channel education activities.

第九条 公募基金管理人和销售机构应当将投资者教育纳入企业战略和文化建设，合规、合理、有机融入各项业务当中，增强投资者教育和服务的持续性。

IX. Public fund managers and fund distributors should incorporate investor education into their corporate strategy and corporate culture construction and integrate the investment education activities into their business in a compliant, reasonable and organic way, so as to enhance the continuity of investor education and services.

第十条 公募基金管理人和销售机构在向投资者销售基金产品或者提供基金服务时应当坚持卖者尽责原则，加强对产品特征的说明和风险揭示，提示投资者仔细阅读相关法律文件，全面了解产品风险，审慎做出投资决策，增强投资者与产品之间的适配性。公募基金管理人和销售机构不得违规承诺收益，不得进行诱导性宣传。

X. Public fund managers and fund distributors should, when offering fund products or fund-related services to investors, adhere to the principle of seller's due diligence by highlighting the features and risks of their products and reminding investors to carefully read the relevant legal documents to fully understand the risks associated with the products before making their investment decisions prudently to match the products with their respective needs. Public fund managers and fund distributors should not make any promises regarding the returns of their product in violation of the law and should not make misleading statements in their marketing.

第十一条 公募基金管理人和销售机构应当健全适当性宣传教育体系。规范履行适当性义务，坚持以投资者为中心，针对不同类型投资者特点增设个性化内容，开展差异化的投资者教育服务内容。

XI. Public fund managers and fund distributors should develop and enhance the investor suitability marketing and education system. They should properly fulfill the obligations related to investor suitability, i.e., adhere to the principle of investor-centric education, include customized educational content for different types of investors, and provide differentiated investor education.

第十二条 公募基金管理人和销售机构应当在投资者投资和持有基金的全过程，包括发送账单、披露净值、发布基金公告等基金服务日常流程，特别在市场或基金净值出现较大波动时，针对投资者集中关注的问题，应当及时、主动提供投资者陪伴服务，传递正确投资理念，解答投资者问题，安抚投资者情绪。

XII. Public fund managers and fund distributors should make their services available to investors throughout the fund investment process, including the regular provision of account statements, fund net asset values and fund-related communications. In particular, during periods of significant market or fund NAV volatility, they should respond in a timely manner to investors' key concerns and proactively provide investor support services to convey the right investment ideas, respond readily to investors' inquiries and calm investors' emotions.

第十三条 公募基金管理人和销售机构应当通过官方网站、手机APP、经营场所的投资者专区、公告栏等多种渠道向投资者公示投诉渠道和处理流程，必要时应当针对投资者投诉反映出的问题，开展专项的投资者教育活动。

XIII. Public fund managers and fund distributors should publicize the investor complaint channels and handling procedures to investors through various means such as official website pages, mobile APPs, dedicated investor service areas or bulletin boards at their place of business, and, where necessary, conduct targeted investor education to address the issues raised in investor complaints.

第十四条 公募基金管理人和销售机构应当从制度、组织、人员、流程、经费等方面保障投资者教育工作的开展，加强对投资者教育工作的管理：

XIV. Public fund managers and fund distributors should ensure the implementation and strengthen the management of investor education activities via system, organization, personnel, procedures and financing:

(一) 建立健全投资者教育工作制度和长效机制，强化内部协同机制；

(i) Establishing a sound system and long-term mechanism for investor education and strengthening the internal synergy mechanism.

(二) 明确各部门投资者教育工作职责分工及考核评价机制，并根据本工作指引对各部门的投资者教育工作进行督导规范；

(ii) Determining the roles and responsibilities of each department in conducting investor education activities and the related evaluation and assessment mechanism and establishing a supervision system in accordance with the requirements of the Guidelines to manage the investor education responsibility of each department.

(三) 配备充足的投资者教育工作人员；

(iii) Assigning adequate staff to investor education activities.

(四) 保障投资者教育经费开支，将其独立于基金销售或营销费用列支，根据实际发生额合理确认基准期投资者教育经费，且每年度投资者教育经费增长幅度不得低于上一年度公司利润增长幅度。

(iv) Ensuring that the expense for investor education is properly earmarked and independent of fund distribution or marketing expenses. A benchmark expense for investor education costs should be reasonably determined based on actual expenses incurred, and the subsequent year’s expense allocation increase for investor education should not be less than the growth rate of the company’s earnings over the prior year.

第十五条 公募基金管理人和销售机构应当建设和培养投资者教育讲师队伍，并指定一名公司高级管理人员和相应部门，负责牵头、组织、督促本单位的投资者教育工作，并履行下列职责：

XV. Public fund managers and fund distributors should establish and maintain a team of investor education instructors and designate a senior manager of the company and a dedicated department responsible for directing, organizing and overseeing the company’s investor education efforts, with the following responsibilities:

(一) 牵头制定投资者教育工作制度、工作流程、工作计划及年度预算；

(i) Lead the development of the investor education framework, workflow, work plan and annual budget.

(二) 定期开展投资者画像调查、研究投资者教育工作需求及存在问题并据此自主或联合开展投教活动；

(ii) Conduct regular investor profiling, research investor education needs and challenges, and implement investor education activities independently or in partnership with other organizations.

(三) 组织编纂公司投资者教育材料，并推动相关部门策划、组织及实施投资者教育活动；

(iii) Coordinate the preparation of investor education materials for the company and facilitate the planning, organization and implementation of investor education activities by relevant departments.

(四) 牵头组建本公司投资者教育讲师队伍，牵头并推动相关部门设计、制作投资者教育宣传产品；

(iv) Lead the building of a team of investor education instructors; lead and facilitate the design and production of investor education materials by relevant departments.

(五) 牵头建设、管理和运营投资者教育基地或投资者教育专区；

(v)  Lead the construction, management and operation of investor education bases or investor education zones.

(六) 结合投资者的覆盖度、接受度和满意度等维度组织开展本公司投资者教育自评估工作，督促检查相关业务部门投资者教育工作落实开展情况等。

(vi) Coordinate and conduct self-assessments of the company's investor education outcomes in terms of investor reach, acceptance and satisfaction; oversee the fulfillment of investor education responsibilities by relevant company departments.

第十六条 公募基金管理人和销售机构应当配备充足的具有基金从业资格的专职投资者教育工作人员，并指定专人负责与协会联络投资者教育工作。负责投资者教育业务的高级管理人员或联络人变更的，公募基金管理人和销售机构需在变更后5个工作日内向协会报告。

XVI. Public fund managers and fund distributors should provide themselves with an adequate number of dedicated investor education staff who possess fund practitioner qualifications. They should assign dedicated individuals for liaising with AMAC on investor education matters. In the event of any change in senior managers or dedicated contact persons for investor education, public fund managers and fund distributors should inform AMAC within five working days of such change.

公募基金管理人及销售机构应当定期组织业务部门开展投资者教育培训工作，定期开展业务部门及专职人员投资者教育工作考核评估，并将培训及考核评估结果纳入业务部门年度绩效考核指标体系。公募基金管理人及销售机构应当为投教人员提供有效履职保障。对于投教工作成效显著、获相关单位表彰的投教负责部门或投教人员，应当给予适当激励。

Public fund managers and fund distributors should conduct regular investor education training for related business departments, conduct regular assessment and evaluation of the results of their investor education efforts, and include such assessment and evaluation in the metrics of the annual performance reviews of related departments. Public fund managers and fund distributors should provide adequate resources to ensure the effective performance of investor education personnel. Those dedicated departments or individuals that achieve exceptional results or receive commendations from relevant organizations for their investor education efforts should be appropriately rewarded.

第十七条 公募基金管理人和销售机构应当以纸质或电子等形式做好投资者教育各项工作记录存档以备检查，保存时间不少于3年，并根据相关制度规则修订、市场改革发展和投资者需求变化等情况适时对存量投教产品进行梳理，清理过时、失效的投教产品，每年至少开展一次。对于非自主运营平台转载的过时、失效的投教产品，积极协调平台予以处理。

XVII. Public fund managers and fund distributors should keep copies of records of their investor education activities in paper or electronic form available for inspection for a period of at least three years and should review their existing investor education materials for outdated and invalid content at least once a year, depending on the revision of relevant regulations and rules, market reform and development, and changes in investor demand. For outdated and invalid investor education materials that are disseminated by non-proprietary platforms, public fund managers and fund distributors should proactively coordinate with such platforms to dispose of them.

第十八条 公募基金管理人和销售机构可根据自身条件自建或共建实体或互联网投教专区。鼓励达到中国证监会有关要求的投教专区向中国证监会或其派出机构申报国家级或省级投教基地。协会可以为行业投教专区特别是国家级投教基地提供投资者教育活动、业务培训等方面的支持服务，组织行业交流共享投教信息和成果，并在证监会的统一部署下，对先进投教专区最佳实践及经验进行宣传推广。

XVIII. Depending on their respective conditions, public fund managers and fund distributors may choose to set up either independent or joint offline sites or online websites for dedicated investor education. Those dedicated sites that meet the relevant requirements of the CSRC are encouraged to apply to the CSRC or its branches for certification as nation-wide or provincial investor education bases. AMAC may provide support services for investor education activities and related training to those industry-wide investor education bases, especially to the nation-wide investor education bases, and organize the exchange and sharing of investment education information and results among industry participants and promote the best cases and practices of the leading investor education in line with the overall deployment policy of the CSRC.

第十九条 协会定期组织对公募基金管理人和销售机构的投资者教育工作情况进行评估，并建立投资者教育内容共享平台和投资者教育产品征集机制，完善基金行业投资者教育资源库，通过协会投教基地等渠道展示优秀产品和典型案例。

XIX. AMAC will organize regular assessments of the investor education efforts of public fund managers and fund distributors and establish a platform for sharing of investor education content and set up a mechanism for soliciting investor education contributions, so as to strengthen the industry’s investor education repository, and showcase the best materials and exemplary cases through AMAC's own investor education base.

公募基金管理人和销售机构的投资者教育工作评估结果将作为监管评价、创新业务试点等工作的参考指标。

The results of the assessment of the investor education efforts of public fund managers and fund distributors will serve as a factor to be considered in the regulatory evaluation and selection of candidates for future innovative business trial implementation.

第二十条 协会将不定期对公募基金管理人和销售机构的投资者教育工作开展检查，公募基金管理人和销售机构应当积极配合。

XX. AMAC will, from time to time, conduct inspections of the investor education activities of public fund managers and fund distributors, and public fund managers and fund distributors should cooperate proactively.

第二十一条 本指引自发布之日起施行。

XXI. The Guidelines shall be effective on the date of publication.

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关于《公开募集证券投资基金投资者教育工作指引（试行）》的起草说明

Drafting Notes on

Guidelines for Investor Education Activities

 of Publicly Offered Securities Investment

Funds (Trial Implementation)

为加快推进公募基金行业高质量发展，进一步引导和规范公开募集证券投资基金的投资者教育工作，提升国民金融素养，构建保护公募基金投资者合法权益的良好生态，中国证券投资基金业协会（以下简称协会）在中国证监会指导下，根据《证券投资基金法》等法律法规，制定了《公开募集证券投资基金投资者教育工作指引（试行）》（以下简称《指引》）。现将有关情况说明如下：

In order to accelerate the high-quality development of the public fund industry, further guide and standardize the investor education activities of publicly offered securities investment funds, enhance the financial literacy of the nation’s citizens and build a sound ecosystem in which the legal rights and interests of investors are adequately protected, the Asset Management Association of China (“AMAC”), under the guidance of the China Securities Regulatory Commission (“the CSRC”) and in accordance with the Securities Investment Fund Law and other laws and regulations, has prepared the Guidelines on Investor Education by Publicly Offered Securities Investment Funds (Trial Implementation) (“the Guidelines"). The following is a summary of the facts and information relating to the Guidelines:

一、起草背景及过程

I. Background and the Drafting Process

2022年4月，证监会发布的《关于加快推进公募基金行业高质量发展的意见》（证监发〔2022〕41号，以下简称《意见》）要求，全面强化投资者教育工作，科学搭建投教工作评估体系，加快形成体系明确、奖励先进、争相发力的公募基金行业投教工作新局面。根据《意见》要求，协会立足行业实际，制定了《指引》，为行业科学开展和评价投教工作提供借鉴和指导。

In April 2022, the CSRC issued the Opinions on Accelerating the High-Quality Development of the Public Fund Industry (CSRC release No. 41 [2022], “the Opinions") with the aim of comprehensively improving the investor education, utilizing scientific approaches in establishing the evaluation framework of the investor education, and accelerating the development of a clear system of investor education in the public fund industry that rewards best practices and encourages participation. Following the requirements of the Opinions, AMAC has consequently formulated the Guidelines based on the current practices of the industry with the intention of providing guidance and information exchange to enable scientific implementation and evaluation of the investor education efforts.

《指引》旨在进一步提高基金行业对投资者教育工作的认知水平。受教者方面，投资者教育应覆盖投资者投资全流程，通过帮助投资者增强投资认知，健全投资理念，提高风险识别与防范能力，纠正投资者行为偏差，提升国民金融素养。施教者方面，投资者教育应融入基金行业机构企业文化，上升至公司战略层面，贯穿投资者服务、陪伴始终，切实服务居民财富管理需求。渠道宣传方面，基金行业机构应结合自身优势和特点，搭建投教宣传多媒体矩阵，开展投教进学校、进社区、进企业等“三进”活动。

The Guidelines are intended to further enhance the fund industry's investment knowledge and understanding level of investor education. In terms of its recipients, investor education should cover the entire investment process to provide investors with a better understanding of investment philosophy, enhanced ability to identify and prevent risks and correct their behavioral errors, and ultimately improving the nation’s overall financial literacy. In terms of the investor education providers, investor education should be integrated into the corporate culture of each individual enterprise in the fund industry and elevated to the level of corporate strategy, running through the entire investment process from beginning to end, and always ready to help, so as to serve the real needs of Chinese families’ wealth management. In terms of channel coverage, each fund manager in the industry should take advantage of its professional expertise and specific conditions to build a multimedia matrix of investor education by implementing the "three coverage" activities, i.e., campus coverage, community coverage and business coverage.

前期协会通过行业座谈等方式向公募基金管理人和销售机构征询了多轮意见，经修改完善，《指引》内容日臻成熟。

Prior to drafting the Guidelines, AMAC held several rounds of discussions with public fund managers and distributors through industry roundtables to obtain comments. The Guidelines have been fine-tuned accordingly to provide better guidance to the industry.

二、主要内容

II. An Overview of the Guidelines

《指引》共二十一条，主要包括投资者教育工作的定义及适用范围、目标、原则、内容、形式、资源保障及协会的自律管理等。主要内容如下：

The Guidelines contain a total of 21 articles covering a wide range of areas, including the definitions and scope of the investor education activities, its objectives, principles, contents, methods of investor education, the availability of resources for providing education, and AMAC’s self-regulatory administration. These key topics are as follows:

(一) 明确投资者教育的定义及适用范围

(i) Clarify definitions and applicable scope of investor education

《指引》明确投资者教育工作是指“向投资者开展宣传基金政策法规、普及基金知识、揭示投资风险、说明投资者权利义务、传导理性投资理念、引导投资者依法维权等活动”。考虑到当前公募基金行业机构是开展基金投资者教育的主力军，因此《指引》适用主体界定在业务中直接面向投资者的公募基金管理人和销售机构等两类机构。

The Guidelines define investor education as "the activities intended for investors, including, providing information to investors relating to policies, laws and regulations of fund investment, popularizing basic concepts relating to fund, making clear the risks associated with investment, highlighting to investors their legal rights and obligations, marketing the idea of rational investment, and explaining to investors how they can best protect their interests by within the applicable legal framework.” Given the fact that public fund managers are currently the main force of carrying out investor education, the Guidelines would mainly apply to two types of business entities interfacing directly with investors, i.e., public fund managers and distributors.

(二) 明确投资者教育的目标、原则、内容和渠道

(ii) Specifying the goals, principles, contents and channels of investor education

《指引》结合我国公募基金行业实践特点，规定了投教的三个目标、六大原则以及七大领域。其中，《指引》规定了投教的三个目标是提升投资者投资认知、技能和理念等三种能力；结合当前投教工作面临问题，提出投教应坚持规范性、有效性、中立性、普惠性、针对性和长期性等六大原则；引导基金行业机构结合自身特点，科学布局投教工作，开展覆盖投资理念、投资知识、交易流程、持有基金、投资者权利和义务、投资行为偏差、防诈骗等七大领域、投资全生命周期的投资者教育活动；要求基金行业机构积极创新，通过自主运营或非自主运营的渠道及平台，搭建投教宣传多媒体矩阵。

The Guidelines take into consideration the practices of China's public fund industry in setting out the three goals, six principles and seven areas to be covered in the investor education activities. Among other things, the Guidelines specify that the three goals of investor education are to enhance investors' overall investment-related knowledge, investment skills and investment philosophy. In light of the current issues facing investor education, the Guidelines propose six principles to be applied in conducting the educational activities, including standardization, effectiveness, neutrality, equal access, customization and on-going basis. The Guidelines recommend the participants of the fund industry to draw on their own experience in arranging educational activities, which should be reasonably designed to cover the seven areas of the investment lifecycle, including investment philosophy, basic investment knowledge, trading process, fund-share-holding, investors’ rights and obligations, improper investment practices to be corrected, and investment fraud prevention. The Guidelines encourage innovation by participants of the fund industry, either through their own efforts or by seeking third-party channels and services, to construct a multi-media and muti-channel matrix for the investor education activities.

（三）引导行业将投资者教育融入企业文化和各项业务

(iii) Guiding industry participants to integrate investor education into their corporate culture and across their various services

投资者教育作为基金行业践行社会责任、落实行业文化建设核心价值观的重要工作，《指引》引导公募基金管理人和销售机构将投资者教育纳入企业文化建设，并与公司战略保持一致，合规、合理、有机融入风险提示、适当性管理、投资者陪伴、投诉处理等环节中，在为投资者提供服务过程中持续开展投资者教育工作，进一步提升投教质效。

Investor education is an important part of the fund industry’s exercise of social responsibility, fostering an industry culture and building its core value propositions. The Guidelines are intended to guide public fund managers and fund distributors in integrating investor education into their corporate culture and aligning it with their business strategies. By using risk warnings in a compliant, reasonable and appropriate manner, together with investor suitability management, investor guide service, complaint handling, among others, fund managers and fund distributors will be able to provide continuous investor education throughout their business relationship with investors, thereby further enhancing the quality and effectiveness of investor education. 

（四）强化投资者教育的资源保障

(iv) Strengthening resource availability for investor education

《指引》要求公募基金管理人和销售机构从制度、组织、人员、流程、经费等方面保障投资者教育工作的开展，加强对投资者教育工作的管理，并指定高级管理人员、相应部门及人员管理、监督投资者教育工作。协会鼓励公募基金管理人及销售机构根据自身条件建立实体或互联网投教专区，鼓励达到中国证监会有关要求的投教专区向中国证监会或其派出机构申报国家级或省级投教基地。

The Guidelines require public fund managers and fund distributors to ensure the implementation of investor education activities by, among other things, making available the relevant policies, organizations, personnel, procedures and funding, and designating senior management members to lead the relevant departments and personnel to manage and oversee the implementation of investor education. AMAC encourages public fund managers and fund distributors to establish dedicated investor education organizations or dedicated online platforms for, depending on their own circumstances. Those investor education organizations or platforms that meet the requirements of the CSRC are encouraged to apply to the CSRC or its branches for certification as national or provincial investor education bases.

（五）建立基金行业投教资源共享机制和评估体系

(v) Establishing an industry-level resource-sharing mechanism and assessment system for investor education

《指引》明确引导公募基金管理人和销售机构积极创新，充分发挥自主运营或非自主运营的第三方渠道及平台作用，线上或线下开展投资者教育活动。同时，鼓励公募基金管理人和销售机构积极向行业机构共享制作的投教作品，积极利用多重渠道传播行业其他机构制作的优秀投教作品。明确协会将定期组织相关机构对公募基金管理人和销售机构的投资者教育工作情况进行评估，公募基金管理人和销售机构的投资者教育工作评估结果作为监管评价、创新业务试点等工作的参考指标。

The Guidelines explicitly encourage innovation by public fund managers and fund distributors to make full use of their own channels or third-party channels and play the role of a platform in conducting both online and offline investor education. Meanwhile, public fund managers and fund distributors are encouraged to actively share their investor education creations with their industry peers and incorporate other industry peers’ quality investor education materials into their own marketing channels. The Guidelines make it clear that AMAC will organize regular evaluation by relevant parties of the education activities conducted by public fund managers and fund distributors, and the results of the evaluation will be used as a factor to be considered in the regulatory evaluation and in the future selection of candidates for innovative business trial implementation.

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特别声明Please Note

英文翻译仅供参考，如中英文表述存在差异，请以中文版本为准。

This translation is furnished for information purposes only. In case there are differences between the two language versions, the original Chinese text is binding in all respects.

封面图片来源：视觉中国-VCG211101720558