China’s Public Offering Fund Value Tops 32 Trln Yuan

A report from Xinhua on Oct. 30th, 2024:

Assets under the management of China’s public offering funds totaled 32.07 trillion yuan (about 4.51 trillion U.S. dollars) by the end of September, data from the Asset Management Association of China showed Friday.

In comparison with the end of August, the figure saw an increase of 1.17 trillion yuan, the data showed.

By the end of September, 163 management companies were operating a total of 12,175 public offering funds, according to the data.

Open-end funds, including equity, bond and money market funds, reported an asset value of nearly 28.24 trillion yuan, accounting for the lion’s share of the total. The scale of closed-end funds came in at nearly 3.83 trillion yuan.

Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), last Friday called for efforts to accelerate the implementation of the guidelines on medium and long-term capital entry into the market, while vigorously developing public equity funds.

The CSRC will deepen the market-oriented, law-based comprehensive reform of capital market investment and financing, Wu said.