Rules on Money-Market Funds
September 1st, 2004The CSRC and PBOC have enacted rules on money market funds, titled 货币市场基金管理暂行规定 or Huobi shichang jijin guanli zanxing guiding (Provisional Regulations on the Administration of Money Market Funds). The South China Morning Post carries a story on it here. The rules state they were enacted on August 16, but apparently they have just been publicly released. It seems they still are not posted on the CSRC website (they update it very sporadically), but the PBOC has posted the new regulations here. A long discussion in Chinese of money market regulation is here.
Money market funds cannot invest in stocks, convertible corporate bonds and bonds with maturities longer than a year, so this might be called “capital market regulation” but is not directly pertinent to the regulation of China’s Shanghai and Shenzhen securities markets.