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Private funds allowed on interbank market

Private investment funds will be allowed to trade on China's interbank debt market for the first time, a central bank document dated June 15 and obtained by Reuters on Tuesday said. The People's Bank of China did not immediately respond to requests for comment. Managers of private investment funds who have net capital of more than 10 million yuan ($1.61 million) can apply for the license, the document showed. Once approved, they can trade fixed income products, including government and corporate bonds.