China's public offering funds value hits 27.25 trillion yuan

BEIJING -- Assets under the management of China's public offering funds totaled 27.25 trillion yuan (about $3.95 trillion) by the end of January 2023, data from the Asset Management Association of China showed.

By the end of last month, a total of 10,607 public offering funds were being operated by 142 fund management companies, the association said.

The scale of closed-end funds reached over 3.58 trillion yuan, while open-end funds stood at about 23.67 trillion yuan, the data revealed.

Of the 142 fund management companies, 47 were foreign-funded and 95 were domestic firms, the association said.