China's privately-offered funds shrink slightly in October

BEIJING - The total value of privately-offered funds in China stood at 12.77 trillion yuan ($1.8 trillion) at the end of October.

The figure was down 31.3 billion yuan, or 0.24 percent, from a month earlier, according to the Asset Management Association of China.

In breakdown, the value of funds investing in securities shrank 4.58 percent to 2.28 trillion yuan due to weak performance of the stock market.

The value of private equity funds, which invest in non-listed companies, rose 1.5 percent to 7.64 trillion yuan.

Meanwhile, the value of venture capital funds expanded 4.94 percent to 860 billion yuan, according to the association.