In 2015, a total of 1.08 billion yuan ($149 million) of municipalfunds were allocated to support elderly care and this year the budget is set to grow by about 10 percent, the Beijing Daily reported.
The SEC, meanwhile, reports a big increase in investigations in four areas of interest for enforcers: insider trading and hedge funds; subprime lending; options backdating; and municipal finance.
Worse, two little-noticed but important bits of the market have imploded this month, and there are fears for a third, known as closed-end municipal-bond funds.