China’s public offering fund value reaches $3.88 tln

China’s public offering funds totalled 27.6 trillion yuan (about $3.88 trillion) by the end of 2023, said the state council citing data from the Asset Management Association of China.

The association added that 145 fund management companies have operated a total of 11,528 public offering funds last year. These companies include 49 foreign firms and 96 domestic firms.

The scale of closed-end funds topped 3.8 trillion yuan, while that of open-end funds was at about 23.8 trillion yuan, the data shows.