The China Securities Regulatory Commission (CSRC) has cleared fund houses to sell ultra-short-term bond funds and has begun accepting applications to launch such funds. Following a pilot scheme approved by the CSRC, two 30-day bond funds were launched by China Universal Asset Management Co and Huaan Funds which raised RMB24.4 billion (US$3.9 billion) in seven days and RMB18.2 billion (US$2.9…

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