BIZCHINA / Top Biz News |
Bull market keeps fund profits rising in 2006(Xinhua)Updated: 2007-04-01 09:09 Chinese investment funds saw a new record in combined operating profits last year at 270.8 billion yuan (US$33.9 billion) for 2006, boosted by the country's bull stock market.
The profits were more than 38 times greater than the seven billion yuan earned in 2005 by all 206 funds under 46 fund management firms.
The country experienced a fund investment boom last year as investors shifted
low-interest bank deposits into the bourses, which surged 130 percent last year
after a four-year slump.
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