China to Issue First Inland Open-end-fund

China is scheduled to issue the first inland open-end-fund in September.

China Securities Regulatory Commission has approved the proposal Wednesday. A fund management company named Hua'an will be the fund manager.

The company planned to issue five billion fund units during the first pooling. Individual and organization investors in China are allowed to purchase.

People's Daily Online --- http://english.peopledaily.com.cn/