China's public offering fund volume hits 27.06 trln yuan

BEIJING -- The assets under the management of China's public offering funds totaled 27.06 trillion yuan (about $3.93 trillion) by the end of July, the Asset Management Association of China showed on Wednesday.

As of the end of July, a total of 10,123 public offering funds were being operated by 140 fund management companies, according to the association, an industry body supervised by China's securities regulator.

In breakdown, the scale of closed-ended funds reached over 3.22 trillion yuan, while that of open-ended funds stood at about 23.84 trillion yuan, the data showed.

Of the 140 fund management companies, 45 are foreign-funded while 95 are domestic firms, the association said.