Business
09:40, 12-Mar-2018
China's privately offered funds expand in February
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The total value of privately offered funds stood at 12 trillion yuan (about 1.9 trillion US dollars) at the end of February.
The figure was up 2.08 percent from the end of January, according to the Asset Management Association of China, on Sunday.
The number of private funds rose 2.5 percent to 70,800 at the end of last month.
Due to weak performances in China's stock market last month, the combined value of funds invested in securities shrank slightly to 2.6 trillion yuan.
In February, data showed that the benchmark Shanghai Composite Index dropped 6.4 percent, while the Shenzhen Component Index was down by 3 percent.
The value of private equity funds, which invest in non-listed companies, rose 2.6 percent to 6.6 trillion yuan, while that of venture capital funds rose 3 percent to 660 billion yuan.
Source(s): Xinhua News Agency