As clarified in Notification of Supervision Rights Division Concerning Private Equity Fund released by the central government's compilation office, the supervision rights of the private equity (PE) funds are to be granted to China Securities Regulatory commission. This in fact, signals that the rivalry over the PE's supervision rights is eventually settled. The National Development and Reform commission, in turn, appeared to be the loser. As Anbound currently has found out, the supervision logic of China securities Regulatory Commission is quite different and to some extent, even contradicts with those of National Development and Reform Commission. Under such circumstance, the PE industry should be well prepared for the competition arising from the coming policy trend and new policies as well.