China sees expansion in registered asset management products in August

BEIJING - The number of asset management products registered by securities and futures operating institutions in China has expanded in August, according to the Asset Management Association of China (AMAC).

Last month, a total of 727 asset management products with a scale of 57.6 billion yuan ($8.14 billion) were registered, 58 more compared with that in July, AMAC data showed.

The total value of the private asset management business of those securities and futures operating institutions totaled 19.6 trillion yuan by the end of August, according to the AMAC.

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