China's strict outbound money rules prevent mom and pop investors (or their mutual fund managers) from buying overseas stocks such as Alibaba, which is listed in New York.

中国对出境资金的严格限制，使得个人投资者(或其共同基金经理)无法购买在纽约上市的阿里巴巴等海外股票。

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On April 17th the organisation sued the Commodity Futures Trading Commission over its mutual-fund rules.

ECONOMIST: Corporate lobbying

But think for a moment about one of the most fundamental rules of mutual fund investing: The past is not prologue.

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Before the new rules a mutual fund or hedge fund that wanted to dump 100, 000 shares of Microsoft quickly could, for example, bypass the New York Stock Exchange and sell them all at once on a different exchange if it saw an open order to buy 100, 000 shares--even if the offer price on the NYSE was a nickel higher.

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