Assets worth $ 3.79 trillion managed by IPO funds in China

The value of assets managed by IPO funds in China reached 25.52 trillion yuan ($ 3.79 trillion) at the end of last April.
The latest data from the China Asset Management Association, an industry body overseen by China’s Securities Regulator, show that as of the end of last month, a total of 9,761 IPO funds were operated by 138 fund management companies.
In detail, the data shows that the volume of closed funds exceeded 3.15 trillion yuan and the volume of open funds exceeded 22.36 trillion yuan.
The Chinese news agency Xinhua quoted the association as saying that “of the 138 financial management companies, 45 are foreign-funded companies, compared to 93 domestic companies.”
Data released by the Central Bank of China, the People’s Bank of China, showed a total bond issue of 5.05 trillion yuan (approximately $ 749.4 billion) in April.
Treasury issuance was 765.63 billion yuan and local government bonds were 284.21 billion yuan.
In April, banking bonds stood at 769.32 billion yuan, while corporate bonds reached 1.36 trillion yuan.
Total asset support securities stood at 27.23 billion yuan, compared to 1.8 trillion yuan for securities based on inter-bank deposit certificates.
At the end of last month, data showed that outstanding securities stood at 138.2 trillion yuan.
In addition, China’s Export-Import Bank is one of the state-owned political banks that has increased financial assistance to stabilize and promote foreign trade, which is a key component of the economy.
The bank’s outstanding loans to the foreign trade sector stood at 2.55 trillion yuan (approximately $ 377.67 billion) at the end of last April, up 152 billion yuan from the beginning of this year.
This year, the bank has taken steps such as increasing credit support, offering different rates and eliminating transaction fees as part of an effort to reduce financial costs for foreign businesses.
China’s foreign trade has been hit by a resurgence of COVID-19 and a complex external environment, with the latest data showing slower growth in April.
To help the sector overcome its difficulties, the Chinese government released a guideline earlier this week that key foreign businesses need improved services and soft goods supplies.
According to Reuters, Shanghai wants to remove unreasonable restrictions on companies from June 1, while the city is considering ending the public “Kovit-19” lockout, while Beijing has reopened some parts of its public transport. By confirming the number of injuries in some shopping malls and elsewhere.
Shanghai, China’s business hub with a population of 25 million, aims to end Johari’s two-month general strike on Wednesday, which has hit the economy hard, and many residents are struggling to find food and isolation after losing income.
Painful controls of the corona virus in major Chinese cities are in line with trends seen in other parts of the world, which have moved towards coexistence with the virus even as the epidemic spreads.
Shanghai, China’s most populous city, is ending a number of requirements for companies to resume operations from June 1. The city has begun measures to support its economy, including reducing certain taxes on car purchases, expediting the issuance of local government securities, and expediting approvals for real estate projects.
Shanghai banks need to renew loans to small and medium enterprises, totaling 100 billion yuan ($ 15 billion).
“We fully support and regulate the resumption of work and projects in various industries and sectors,” Wu King, Deputy Mayor of Shanghai, told reporters.
In April, Shanghai began publishing “white lists” of key companies in the automotive, biosciences, chemicals and semiconductor industries. But many large companies have suppliers that cannot be reopened, so these companies still face a logistics crisis.
“The Chinese Financial Center will facilitate requirements for the COVID-19 test from Wednesday for those who wish to enter public spaces or use public transport, and for those who are encouraged to resume work and return to normal life,” Yin Chin said. Shanghai.
“The current epidemic situation in the city is constantly being stabilized and improved,” Yin said, adding that “Shanghai’s strategy now revolves around the normalization of prevention and control.”
He explained at a press conference that from Wednesday, those entering public places or using public transport should show a negative result to the corona detection test taken within 72 hours, compared to the previous 48 hours.
More people were allowed to leave their apartments and more businesses were allowed to operate again, although many residents are still mostly confined to their apartment complexes, and most stores are limited to delivery services only.
The government newspaper “Shanghai Securities News” said yesterday that “authorities have agreed to reopen 240 financial institutions in the city from Wednesday to add to the list of 864 companies announced earlier this month.” It is present in nearly 1,700 financial institutions in Shanghai.
The newspaper said Saturday that “more than ten thousand bankers and dealers who have been living and working in their offices since the closure began will gradually return to their homes.”
In the capital, Beijing, libraries, museums, theaters and gyms were allowed to reopen yesterday in areas where there had been no widespread cases of the corona virus for seven consecutive days.
More than 100 daily COVID-19 cases were reported yesterday in Shanghai, while 21 cases were reported in Beijing, both of which reflect a nationwide downward trend.