Mutual funds to spread wings

Move aims to widen access to capital markets on the Chinese mainland

Cross-border sales of mutual funds between the Chinese mainland and Hong Kong will start on July 1, the China Securities Regulatory Commission announced on Friday.

"This is an important move for promoting Chinese capital markets' opening to the world," said Deng Ge, a CSRC spokesman. "It's a mutual goal and obligation for regulators in the Chinese mainland and Hong Kong to guarantee the openness and fairness of the capital markets and protect investors' interests."