China's public offering fund volume hits 26.79t yuan

BEIJING -- Assets under the management of China's public offering funds reached 26.79 trillion yuan (about $3.97 trillion) by the end of June, the latest data from the Asset Management Association of China showed.

As of the end of June, a total of 10,010 public offering funds were operated by 139 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 nearly 3.27 trillion yuan, while that of open-ended funds stood at about 23.52 trillion yuan, the data showed.

Of the 139 fund management companies, 45 are foreign-funded while 94 are domestic firms, the association said.