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B>MUTUAL FUND MANIA: /B>China's overheated mutual fund sales, boosted by a public mania for investing in yuan-denominated 'A' shares, is expected to cool down after securities regulators sent out a warning of potential risks that might occur due to excessive money inflow into the market.
CHINA'S monetary measures to cool its heated economy has shown signs of efficacy, and the central bank will attempt to stabilise the yuan's exchange rates with major world currencies, the 13-member Monetary Policy Committee said in a statement yesterday.
The People's Bank of China (PBoC), the country's central bank, has drained 1 billion yuan from the banking system via the sale of three-month bank bills.