China Southern Fund Management Co., Ltd and CITIC launched China's first co-branded fund card on Dec 5. This means money market fund is given the function to make payment for the first time in China.

Upon being authorized at the time the card is issued, the cardholder will be entitled to make payment and overdraft. This is the first time money market fund is given the function to make payment in China.

Yesterday the VISA organization awarded the card "innovation award of financial products 2005".

By People's Daily Online