(Xinhua/Si Wei)

China’s privately offered funds expand in July

The total value of privately offered funds in China reached 20.39 trillion yuan (about 3.02 trillion U.S. dollars) at the end of July, data from an industry association showed.
The figure was up 420 billion yuan, or 2.1 percent from a month earlier, according to the Asset Management Association of China (AMAC).
The number of registered private funds rose 1.52 percent to 135,836 at the end of last month, AMAC data showed.
A total of 24,304 institutions managed these funds, down 0.11 percent month on month, the data showed.
Established in 2012, AMAC is a self-regulatory organization that represents China’s mutual fund industry.