China’s public offering fund value hits 27.6 trln yuan

Beijing: The assets under the management of China’s public offering funds totaled 27.6 trillion yuan (about 3.88 trillion U.S. dollars) by the end of 2023, data from the Asset Management Association of China shows.

By the end of last year, a total of 11,528 public offering funds were being operated by 145 fund management companies, the association said.

The scale of closed-end funds topped 3.8 trillion yuan, while that of open-end funds was at about 23.8 trillion yuan, the data shows.

Of the 145 fund management companies, 49 are foreign-funded and 96 are domestic firms, the association said.