A Look at China's Money Market Funds
October 02, 2004 | BY
clpstaff &clp articlesRegulate the offering, operation and related activities of money market funds.
Share:
By Christophe Han and Stanley Cha
The China Securities Regulatory Commission (CSRC) and the People's Bank of China (PBOC) jointly released the long expected Administration of Money Market Funds Tentative Provisions (货币市场基金管理暂行规定)(the Tentative Provisions) on August 31 2004. The promulgation and implementation of the Tentative Provisions forms the first legal recognition of seven quasi-money market funds that currently operate in China's capital markets. Simultaneously, the Tentative Provisions present an outline for the future legal framework for money market funds (MMFs).
What is an MMF?
Per the Tentative Provisions, an MMF is a fund that only invests in money market instruments; it is included