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China Plans Curbs on $1 Trillion in Money-Market Funds

  • Regulators plan to limit daily redemption amount: sources
  • Alibaba’s Ant Financial controls China’s biggest money fund
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Bloomberg’s Emma O’Brien reports on China’s crackdown on financial risk.(Source: Bloomberg)
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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.