China's asset management business scale hits 51.79t yuan

BEIJING -- The total scale of China's asset management businesses stood at about 51.79 trillion yuan ($7.54 trillion) by the end of 2016, data from an industry body showed Friday.

The figure amounts to a year-on-year increase of 31.4 percent, according to statistics released by the Asset Management Association of China.

The growth rate plunged from an annual growth of 92.2 percent in 2015.

In breakdown, fund management companies operated public funds worth about 9.16 trillion yuan, with 3,564 open-end funds.

They also managed assets worth nearly 16.89 trillion yuan for segregated accounts.

Value of asset management businesses of futures companies stood at 279.2 billion yuan.