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China unlikely to approve money market funds by yr-end - report.
(From Xinhua Financial News - China Focus)
BEIJING (XFN) - The China Securities Regulator Commission (CSRC) is unlikely to approve the money market funds by year-end due to various objections, the 21st Century Business Herald said, citing sources with the commission.
An official with an unnamed fund management company was quoted by the newspaper as saying two problems hinder the launch of money market funds -- the distribution of interests between fund management companies and commercial banks, and the funds' possible impact on the government's monetary policies.
The official said the launch of money market funds will surely diverge the personal …
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