China plans to expand its unprecedented crackdown on financial risk to money-market funds by capping how much investors can redeem in a day, people familiar with the matter said.
The limit for same-day redemption will be set at 10,000 yuan ($1,580), said the people, who asked not to be identified as they’re not authorized to speak publicly. The same restriction will apply when investors use their assets in money-market funds directly for payment and consumption, the people said.