generally a fund is set up as a ring fenced company to take investor money and hold assets.
the fund will raise some funds, and use the collected funds to purchase the asset. The total value of the assets are divided by the number of shares to become the NAV.
a fund would have rules that say:
1. can only purchase this/this/that/that equity
2. can only have how much maximum of idling cash
3. cannot borrow money unless its for short term redemption and up to a maximum of n%
etc.etc.
so in such context, if a fund is properly defined (under the prominent scheme of investment, e.g. UCIT III, or Sg CIS), they have extremely minute risk of going bankrupt. Only chance of doing that is: (1) if all assets in the fund suddenly fall to near zero, (2) the fund need to pay the manager a fixed minimum sum of money, (3) or a huge mistake by the trader in trading the fund.
As long as the rules are properly set and the traders are doing their things properly, there shld not be any reason why the fund will go bankrupt.
As for china trackers, I believe there is only 1 on A shares, the A50 trackor, ishareA50 ? Can't rem the exact ticker but likely to be 2823 or 2828...