China tightens screws on major money market funds

SHANGHAI (Reuters) – China’s securities regulator issued draft rules on Friday to strengthen supervision over major money market funds to better protect investor interests.

© Reuters/TINGSHU WANG
China Securities Regulatory Commission (CSRC) building in Beijing

The rules would tighten scrutiny over individual money market funds with a large size or a great number of investors, to ensure safety and liquidity of such products, the China Securities Regulatory Commission said on its website.

(Reporting by Samuel Shen and Andrew Galbraith; Editing by Toby Chopra)