China has the worlds' second-largest stock of public pension funds, sovereign wealth fund and central bank assets, according to a new report. Such Chinese banks and funds control $4.2 trillion in assets, around 12 percent of the world's total.

China is second to the US, which has $6.6 trillion in such assets, around 20 percent of the world's total. China is followed by Japan and the United Arab Emirates.

The figures were revealed in the latest edition of Global Public Investor, which tracks the behavior of public pension and sovereign funds and central banks. The book is published by OMFIF, a think tank based in London and Singapore.

The report found that an improving world economy boosted public pension fund, sovereign wealth fund and central bank assets to $33.5 trillion by the end of 2016.

Pension funds grew by $435 billion, and sovereign wealth funds by $143 billion. Central banks' assets declined by $103 billion.

The People's Bank of China has the most assets ($3.097 trillion) with Japan's Government Pension Fund in second ($1.334 trillion). China Investment Corporation is in sixth place with $813 billion in assets.

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