BEIJING - China's privately offered funds hit 17.82 trillion yuan (US$2.76 trillion) by the end of May, according to industry association data.

By the end of May, the number of registered privately offered funds had risen from 105,205 one month earlier to 106,345, according to the Asset Management Association of China

The figure was up 3 billion yuan from the end of the previous month, data from the Asset Management Association of China (AMAC) shows.

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By the end of May, the number of registered privately offered funds had risen from 105,205 one month earlier to 106,345, according to the AMAC.

A total of 24,427 institutions managed these privately offered funds, AMAC data shows.

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Established in 2012, the AMAC is a self-regulatory organization that represents China's mutual fund industry.