China's privately offered funds expand in January

Tourists visit the Bund during the Lunar New Year holiday in east China's Shanghai, Feb. 14, 2021. (Xinhua/Zhang Jiansong)

BEIJING, Feb. 21 (Xinhua) -- The total value of privately offered funds in China reached 20.28 trillion yuan (about 3.2 trillion U.S. dollars) at the end of January, industry association data showed Monday.

The figure was up 514.36 billion yuan, or 2.6 percent from a month earlier, according to the Asset Management Association of China (AMAC). The number of registered private funds rose 2.26 percent to 126,916 at the end of last month.

A total of 24,646 institutions managed these funds, up 0.15 percent month on month, AMAC data shows.

Established in 2012, AMAC is a self-regulatory organization that represents the mutual fund industry of China.