The scale of China's privately offered funds reached 15.97 trillion yuan (about $2.48 trillion) at the end of last year, industry association data shows.

Some 24,561 institutions managed these funds by the end of 2020, with the total number of registered privately offered funds hitting 96,852, according to the Asset Management Association of China.

In December alone, the association saw 3,609 newly registered privately offered funds, up 945 funds or 35.47 percent from a month earlier.

The volume of newly registered assets came in at 140.55 billion yuan in December, increasing 25.89 billion yuan from the previous month.

Established in 2012, the association is a self-regulatory organization representing the mutual fund industry of China.

(Cover: VCG)