Initiatives to promote the high-quality development of public funds gradually take shape, and floating rate funds are expected to transition to regular funds within the year.

After the release of the "Action Plan for Promoting the High-Quality Development of Public Funds" on May 7th, a series of reform measures and supporting rules will also be implemented one after another. It is reported that training sessions related to the "Action Plan" will be held recently, with the latest guidance on topics such as the conversion of floating rate funds to conventional funds, optimization of bond fund approvals, reduction of sales service fees, and operational requirements for initiation funds. It is expected that floating rate funds will be converted to conventional approval after National Day. Existing products may also be converted to floating rate funds after one year of observation, depending on market conditions. If a fund company plans to adjust old products to floating rate funds ahead of time, they can communicate with regulators to see if it is feasible. Currently, floating rate funds are only applicable to actively managed equity funds, and the floating rate mechanism may be introduced in "fixed income +" funds in the future.