It is long-term bonds that cannot be the investment target of money market funds.

Reference: Securities Qualification Examination

Money market funds may not invest in the following financial instruments: (1) stocks; (2) convertible bonds; (3) Bonds with a remaining maturity of more than 397 days; (4) Corporate bonds with a credit rating below AAA; (5) Short-term credit rating of A- 1 or equivalent to A- 1 assessed by domestic credit rating agencies and short-term financing bonds below this standard; (6) Securities with restricted circulation; (7) Other financial instruments prohibited from investment by the China Securities Regulatory Commission and the People's Bank of China.