China's public offering fund value tops 27 trln yuan

Assets under the management of China's public offering funds totaled 27.38 trillion yuan (about 3.85 trillion U.S. dollars) by the end of October, data from the Asset Management Association of China showed.

By the end of October, a total of 11,268 public offering funds were being operated by 144 fund management companies, the association said.

The scale of closed-end funds neared 3.73 trillion yuan, while that of open-end funds was at about 23.7 trillion yuan, the data showed.

Of the 144 fund management companies, 48 are foreign-funded and 96 are domestic firms, the association said.