China's public offering funds volume hits 22.51 trln yuan

BEIJING, May 30 (Xinhua) -- Assets under management of public offering funds in China climbed to 22.51 trillion yuan (about 3.53 trillion U.S. dollars) by the end of April, data from the Asset Management Association of China (AMAC) showed.

The volume was up from 21.56 trillion yuan registered by the end of March, according to AMAC, an industry body supervised by China's securities regulator.

China had 134 asset management companies by the end of the last month, including 44 joint ventures and 90 domestic companies.

At the end of April, a total of 13 securities firms or asset management subsidiaries under securities firms, as well as two insurance asset management companies obtained qualifications for the management of public offering funds, AMAC data showed.