| Originated in the United States, Money Market Fund (MMF) has been developing for almost thirty years and in a significant position of the fund market due to its advantages such as a relatively steady yield, low risk of investment and high liquidity. While in China, it has arisen for only about two years and therefore it is underdeveloped with the imperfect laws and regulations. Since Hua An Fund Management Co., ltd issued Hua An Fuli Money Market Fund, the first quasi-money-market fund in China in December 2003, the money market in China has been broad in scale as well as the financial tools of the money market enriched gradually. This provides some beneficial conditions for the development of the Money Market Fund. But totally speaking, the money market in China is still lacking in flourish and some related laws and regulations need to be perfected. Certain difficulties and problems also appear in the development of the Money Market Fund. This paper starts with the macroscopic and microcosmic influences of the Money Market Fund, introduces the development and operating situations of the Money Market Fund in China and the United States, analyzes the differences of the Money Market Fund in China and the United States and thus points out the existent problems in the development of the Money Market Fund in China. Based on these illustrations, it puts forward the further solutions to develop the money fund in China by drawing inspiration from the successful operating experience of the Money Market Fund in the United States. |
