China's privately offered funds edge up in August

BEIJING -- The scale of China's privately offered funds stood at 20.41 trillion yuan (about $2.87 trillion) at the end of August, according to data from an industry association.

The volume edged up 19.36 billion yuan, or 0.09 percent, from the end of the previous month, according to the Asset Management Association of China (AMAC). The number of registered private funds exceeded 137,000 at the end of August.

As of the end of August, there are 31,628 private equity investment funds, with the fund size at approximately 10.97 trillion yuan. There are 17,604 venture investment funds, with the fund size totaling 2.72 trillion yuan.

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