(Yicai) Oct. 3 -- The net value of assets under the management of China's public offering funds topped CNY30.9 trillion ( USD4.41 trillion ) at the end of August, according to data from the Asset Management Association of China.

By the end of August, 163 management companies were operating a total of 12,132 public offering funds, according to the data.

Open-end funds, including equity, bond and money market funds, reported an asset value of nearly CNY27.07 trillion, accounting for the lion's share of the total. The scale of closed-end funds came in at nearly CNY3.84 trillion.

China's securities watchdog recently pledged to boost public equity funds as part of the efforts to encourage medium and long-term capital to enter the capital market.

Efforts will be made to continuously improve the scale and proportion of equity funds and create long-term and stable returns for investors, according to the China Securities Regulatory Commission.

The value of public equity funds stood at CNY3.29 trillion at the end of August.