BEIJING, March 13 (Xinhua) -- The scale of China's public offering funds rose by 3.52 percent month on month by the end of January, data from the Asset Management Association of China showed.
The total assets managed by the funds reached 20.59 trillion yuan (about 3.18 trillion U.S. dollars), showed the data.
By the end of January, the number of registered public offering funds reached 8,037, said the association.
The public offering funds were operated by 132 fund management companies, of which 88 were domestic firms, and the rest were joint ventures.
China's asset management industry expanded at a slower pace in recent years as authorities tightened regulations to contain rising risks from wealth management products.
In 2017, draft guidelines unified rules covering asset management products issued by all financial institution types, requiring them to set leverage ceilings. Enditem
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