The value of China's private investment funds reached 19.91 trillion yuan (about 2.77 trillion U.S. dollars) at the end of 2024, down from 20.33 trillion yuan at the end of January 2024, industrial data showed on Wednesday.

The number of private investment fund managers stood at 20,289 at the end of December, down from 21,594 at the end of January 2024. The number of registered private investment funds came in at 144,155, down from 153,756 at the end of January last year, according to the Asset Management Association of China.

Established in 2012, the association is a self-regulatory organization that represents China's mutual fund industry.

China unveiled a regulation on the supervision and administration of private investment funds in 2023. The regulation aims to encourage the standardized and healthy development of the sector, better protect the legitimate rights and interests of investors, and encourage the sector to play an active role in serving the real economy and promoting scientific and technological innovation.

To sustain the stable recovery of the securities market, China's securities regulator on Monday pledged to streamline the entry of medium and long-term capital into the market and enhance institutional inclusiveness and adaptability.