Briefly

Privately offered funds fare well

Assets managed by China's privately offered funds rose by 0.07 percent on a monthly basis to 14.35 trillion yuan ($2 trillion) by the end of May, according to the Asset Management Association of China. The total number of registered privately offered funds rose by 0.37 percent on a monthly basis to 85,700 by the end of May. Some 24,584 institutions managed the funds, down by 0.06 percent from the previous month, the data showed. Established in 2012, the association is a self-regulatory organization representing the mutual fund industry of China.

Track work starts on new high-speed railway

Track-laying work on a major high-speed railway linking Lianyungang and Xuzhou in East China's Jiangsu province commenced on Sunday. The 362.19-kilometer line will have an operational speed of 350 kilometers per hour when it starts operations in December this year, according to China Tiesiju Civil Engineering Group, the builder. Construction of the line started in November 2016 and is part of the country's "eight horizontal lines and eight vertical lines" designed for high-speed railways.

Xinhua - China Daily