China's public offering fund value tops 30.9t yuan in August

BEIJING - The net value of assets under the management of China's public offering funds topped 30.9 trillion yuan ($4.41 trillion) at the end of August, according to data from the Asset Management Association of China.

By the end of August, 163 management companies were operating a total of 12,132 public offering funds, according to the data.

Open-end funds, including equity, bond and money market funds, reported an asset value of nearly 27.07 trillion yuan, accounting for the lion's share of the total. The scale of closed-end funds came in at nearly 3.84 trillion yuan.

China's securities watchdog recently pledged to boost public equity funds as part of the efforts to encourage medium and long-term capital to enter the capital market.

Efforts will be made to continuously improve the scale and proportion of equity funds and create long-term and stable returns for investors, according to the China Securities Regulatory Commission.

The value of public equity funds stood at 3.29 trillion yuan at the end of August.