BEIJING -- The scale of China's privately offered funds stood at 20.23 trillion yuan ($2.97 trillion) at the end of January 2023, according to data from an industry association.

The volume edged up 205.08 billion yuan, or 1.02 percent, from the previous month, according to the Asset Management Association of China.

The number of registered privately offered funds came in at 146,345 as of the end of January, 1,297 more than the previous month.

Meanwhile, some 22,156 institutions managed these funds, 1,511 less than the previous month, AMAC data showed.

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