China's privately offered funds expand in January

BEIJING -- China's privately offered funds reached 17.06 trillion yuan (about $2.64 trillion) by the end of January, industry association data showed.

The figure was up around 1.09 trillion yuan, or 6.8 percent, from the end of the previous month, according to the Asset Management Association of China (AMAC).

By the end of January, the number of registered privately offered funds reached 98,977, rising 2.19 percent from one month earlier, according to the AMAC.

Some 24,587 securities, futures trading and venture capital institutions managed these funds as of the end of January, AMAC data showed.

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