In 2015, a total of 1.08 billion yuan ($149 million) of municipal funds were allocated to support elderly care and this year the budget is set to grow by about 10 percent, the Beijing Daily reported.

据《北京日报》报道，2015年，北京市一共下拨了10.8亿人民币（约合1.49亿美元）的市政基金来支持对老年人的关怀服务，而今年这一预算的数额还将增长10%。

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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.

同时，SEC宣称将大幅增加对4个热点领域的调查：内部交易，对冲基金，次级借贷、倒签期权日期和市政金融。

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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.

更为糟糕的是，在这个月，债券市场中两个很少引起关注但是很重要的部分崩溃了，并且人们担心下一个可能是封闭式市政债券基金。

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Three more former ministers were hauled in for questioning over the suspicious accounting of municipal funds.

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For all those reasons, the market for municipal funds is roughly 0.2 percent of the corporate bond market, and less developed than those in emerging economies like South Africa and the Philippines, claimed Nagarajan Narasimhan, senior director of CRISIL Ratings.

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Consider alternative investments for your intermediate-term goals like short-term bond funds, municipal bond funds or income funds that include dividend-paying stocks in the mix but watch for bonds with long maturities.

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