SHANGHAI : A growing number of bond funds in China have suspended taking subscriptions or capped inflows, amid signs money is gushing into fixed income products as stocks wobble and banks cut deposit rates.
China's top five state lenders cut individual deposit rates last week, a move that could help bring down lending rates further to aid the economy. The rate cuts came on top of reductions in certain deposit rates in April. China Asset Management Co said on Friday that it would reject individual subscriptions exceeding 1 million yuan a day to protect the interest of existing fund holders and strengthen stability of operations.
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