The China Securities Regulatory Commission has approved the formal launch of the Fund Industry Institutional Investor Direct Sales Service Platform (FISP), as part of its action plan to promote high-quality development of the public fund sector and improve investor service. FISP is an industry-wide service platform authorised by the CSRC and built and operated by China Securities Depository and Clearing Corporation (ChinaClear). Fund managers and fund custodians are required to connect to the platform and may use it to conduct fund direct-sales business. The platform provides centralised, standardised and automated end-to-end data and information exchange services for institutional investors investing in public funds, aiming to address the high cost, low efficiency and higher operational risks associated with traditional direct-sales models, and to better support longer-term funds participating in the market. Next, the CSRC will supervise ChinaClear’s ongoing operation and further development of FISP, including continued optimisation of platform functions and service quality.
China Securities Regulatory Commission 2025-09-05
China Securities Regulatory Commission approves official launch of FISP platform for institutional investor direct sales of public funds
The China Securities Regulatory Commission (CSRC) has approved the Fund Industry Institutional Investor Direct Sales Service Platform (FISP) to enhance the public fund sector and investor services. Operated by China Securities Depository and Clearing Corporation, FISP standardizes and automates data exchange for institutional investors, addressing inefficiencies and risks in traditional direct-sales models. The CSRC will oversee the platform's development and service quality.