According to the data, a total of 12,132 IPO funds had been operated by 163 fund management companies by the end of August, Chinese news agency Xinhua reported.
The volume of open funds, including chests, was recorded Stocks andBonds In the money market, the value of assets amounted to about 27.07 trillion yuan, while the volume of closed funds amounted to about 3.84 trillion yuan.
The value of public equity funds reached 3.29 trillion yuan at the end of August.
Earlier, with the aim of revitalizing the second largest economy in the world, it reduced… People’s Bank of China Interest rates on existing mortgages by about 0.5 percentage points, and support new lending by reducing the level of reserves that banks must set aside before granting loans.
Central Bank Governor Pan Zongsheng said he would also ease restrictions on borrowing to invest in stocks and bonds on Chinese stock exchanges, leading to a rise in the… Shanghai The compound increased by more than 4 percent within hours of the announcement.
Beijing aims to achieve economic growth of about 5 percent by the end of the year. However, some investment banks, including Goldman Sachs, Nomura, UBS and Bank of America, recently lowered their forecasts for China’s growth rate this year.
