China's State Post Bureau will begin selling mutual funds for the first time, reports the China Daily. The bureau plans to allow approximately 2,300 outlets to serve as agents selling the Dacheng 2020 Life Cycle Fund, managed by Dacheng Fund Management.

China has begun training its postal employees on how to sell the fund. If the program is successful, it will begin offering other funds.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.