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Asset management biz expansion slows

China's asset management businesses expanded at a slower rate in the first nine months of the year amid tightened regulation, according to industry data. Assets under management totaled 54.09 trillion yuan ($8.25 trillion) as of Sept 10, up 4.9 percent from the end of 2016, according to the self-regulated Asset Management Association of China (AMAC) on Tuesday. The scale of publicly offered funds went up 22.3 percent to 11.2 trillion yuan, while the scale of private investment funds went up 31.2 percent to 10.25 trillion yuan