Issued: September 22 2005
Effective: as of date of issue
Main contents: The Circular sets forth the requirements such as credit rating on the short-term financing bills that a money
China Securities Regulatory Commission, Circular on Issues Relevant to Investments in Short-term Financing Bills by Money Market Funds
中国证券监督管理委员会关于货币市场基金投资短期融资券有关问题的通知
The Circular provides for the minimum credit rating of short-term financing bills in which a money market fund invests, while the domestic credit rating shall prevail over international credit rating. The percentage of the investment by a money market fund in the short-term financing bills and short-term corporate bonds issued by one company may not in total exceed 10% of the net value of the fund's assets. If the credit rating of short-term financing bills held by a money market fund drops, the fund shall fully divest itself of such bills within 20 trading days.
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