PE firms, funds grow; experts urge prudence

The assets under management, or AUM, of private equity firms and privately offered funds rose to 9.95 trillion yuan ($1.49 trillion) by the end of July, benefiting from the nation's thrust on mass innovation and entrepreneurship.

Some 20,110 private equity firms and privately offered funds registered with the Asset Management Association of China saw their AUM increase by 26 percent from the January level, AMAC data showed.

Private equity firms accounted for 6.14 trillion yuan, or nearly 62 percent, of funds.