China's public fund industry continues to scale new heights, with total assets under management approaching 37 trillion yuan.

According to the latest data released by the Asset Management Association of China (AMAC), as of the end of October 2025, the net asset value of public funds managed by 165 domestic institutions reached 36.96 trillion yuan, up 0.60% from 36.74 trillion yuan at the end of September. The number of public fund products also hit a record high of 13,381, increasing by 74 from the previous month.

This marks the 13th consecutive milestone for China's public fund industry since 2024, with assets under management setting new records in multiple months, including February, April, May, July, September, and December 2024, as well as April through September 2025.

Money market funds and QDII funds were the primary drivers of growth in October, expanding by 385.54 billion yuan and 28.39 billion yuan, respectively, representing month-on-month increases of 2.63% and 3.12%.

In contrast, bond funds, hybrid funds, and equity funds saw declines, with assets shrinking by 1.45%, 1.27%, and 0.49%, respectively.

From a share perspective, money market funds attracted inflows of 385.28 billion units, aligning with their asset growth. QDII funds recorded the sharpest increase in shares, rising 7.09% or 48.80 billion units, reflecting strong investor interest in overseas markets.

Notably, while equity funds experienced net asset declines, their shares increased by 65.69 billion units. Analysts suggest this divergence may stem from market volatility and net value adjustments in October.

Meanwhile, bond funds and hybrid funds faced both shrinking assets and declining shares, with reductions of 133.89 billion units and 12.75 billion units, respectively.