By 2025, the total scale of public funds reached 37.71 trillion yuan, with an annual growth of nearly 4.9 trillion yuan.

On January 28th, the latest data released by the China Securities Investment Fund Association showed that by the end of December 2025, the total size of public funds in China reached 37.71 trillion yuan, hitting a new historical high, an increase of nearly 490 billion yuan from the end of 2024. Specifically, since April 2025, the scale of public funds has set a new record for nine consecutive months. Compared to the end of 2024, the net value of stock funds increased by 1.6 trillion yuan, a year-on-year increase of 35.9%, reflecting a recovery in the overall performance of the stock market throughout the year, a restoration of investor confidence, and an increase in equity asset allocation through public funds. According to the association's data, as of the end of 2025, there were a total of 165 public fund management institutions in China, including 150 fund management companies and 15 asset management institutions that obtained public offering qualifications. Public funds refer to collective investment products initiated by fund companies, openly raising funds from the public for investment in financial assets such as stocks and bonds. They are the mainstream tools for ordinary investors to participate in the capital market and an important lever for implementing national strategies and guiding long-term value investments.