The approval process for the issuance of second-tier bond funds with warrants is expected to accelerate, with more refined approval management.

Recently, there have been reports indicating that several fund companies have received notifications to initiate a fast-track registration channel for "inclusion" secondary bond funds. Journalists have confirmed with industry insiders that the approval process is expected to be expedited, with more precise management. For example, product approval will be linked to the classification evaluation mechanism of the fund management company. "Fund companies classified as A, A-, or B, as well as wholly foreign-owned companies, are eligible for the fast-track channel for inclusion secondary bond funds. The higher the rating, the shorter the approval time, for example, A-class fund companies may take 1 month to 40 days; B-class fund companies may take up to 2 months." In addition, the level of inclusion in the product will also affect the approval speed, with funds with a 20% inclusion being approved faster than those with 5%, in order to encourage funds to enter the market. To prevent a backlog of approval documents, fund companies must complete the issuance and listing of one product before submitting a new one for approval.