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Fund-raising regains its momentum

By Zhang Jiawei (chinadaily.com.cn)
Updated: 2009-11-11 16:41

A total of 109 new funds have raised 268.9 billion yuan ($39.4 billion) in China as of November 9, far more than last year's total of 203.3 billion yuan, the China Securities Journal reported on Tuesday citing statistics released by Wind Info, a Chinese financial data provider.

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The sum is still very low compared with the 600 billion yuan raised in 2007 though, the newspaper said.

The third quarter alone saw 31 new funds raising 123.1 billion yuan, up 52.19 percent quarter-on-quarter. This was the second time a single quarter's fund-raising was more than 100 billion yuan since the fourth quarter of 2007.

The CSI 300 Index funds this year raised over 100 billion yuan. Thirteen index funds were established in the second half of this year, according to the newspaper.