China's public offering fund volume hits 13.78 trillion yuan

BEIJING, March 16 (Xinhua) -- China's public offering funds reached 13.78 trillion yuan (about 2.05 trillion U.S. dollars) by the end of January this year, according to the Asset Management Association of China.

This marked an increase of 750 billion yuan compared with the end of 2018.

Of the total, the volume of equity funds, money market funds and bond funds all posted growth in January. The money market funds, which increased 7 percent from the previous month to 8.15 trillion yuan, led the growth.

According to the association, the public offering funds were operated by 120 fund management companies, of which 76 were domestic firms while the rest were joint ventures.