Private equity funds expand in China

BEIJING - China's private equity funds were worth 12.79 trillion yuan ($1.85 trillion) at the end of November, data released by the industry association showed.

The figure was up 0.16 percent from the statistic recorded a month earlier. The number of private equity funds went up 241 to 75,220 at the end of last month, according to the Asset Management Association of China (AMAC).

The number of private equity fund managers registered at the association increased 151 to reach 24,418 by late November, while the number of private equity fund professionals stood at 245,500, a drop of 494 from a month earlier.

Established in 2012, AMAC is a self-regulatory organization that represents the mutual fund industry of China.