? The term of money market securities invested by money market funds is usually within 1 year, with an average term of 120 days, such as treasury bonds, central bank bills, commercial bills, bank time deposit certificates, short-term treasury bonds, corporate bonds (with high credit rating), interbank deposits and other short-term securities. Money funds have the following characteristics: safe principal, strong liquidity, high rate of return, low investment cost, and only one dividend-dividend to invest.

? The State Council securities regulatory authority shall, within six months from the date of accepting the application for establishing a fund management company, make a review according to the conditions stipulated in Article 13 of this Law and the principle of prudent supervision, make a decision on approval or disapproval, and notify the applicant; If it is not approved, it shall explain the reasons. The establishment of branches, amendment of articles of association or change of other major matters of a fund management company shall be reported to the the State Council securities regulatory authority for approval. The State Council securities regulatory authority shall make a decision of approval or disapproval within 60 days from the date of accepting the application, and notify the applicant; If it is not approved, it shall explain the reasons.

? According to Article 18 of the People's Republic of China (PRC) Securities Investment Fund Law, directors, supervisors, managers and other employees of a fund manager may not hold the post of fund custodian or other fund managers, or engage in securities trading or other activities that harm the interests of fund property and fund share holders.