China's new public offering funds tops 3t yuan

BEIJING -- The scale of China's public offering funds newly issued in 2020 has exceeded 3 trillion yuan (about $459.3 billion).

A total of 1,332 public offering funds were set up by Dec 16 this year. Of these, 31 have seen their return rates over 50 percent since issuance, according to data from financial information provider Wind.

The average return rate of the newly issued funds was 7.83 percent by Dec 15, and that of the stock funds was 16.29 percent, Wind data showed.

New energy vehicles were one of the hot investment areas during the year, said Wind.