China had 75,178 private equity (PE) funds by the end of January, with a combined value of 12.74 trillion yuan (about 1.87 trillion U.S. dollars), latest data showed.

Some 24,458 securities, futures trading and venture capital institutions managed these funds, according to a statement on the website of the China Securities Regulatory Commission.

The private equity industry employed 244,300 people by the end of January, the statement added.

China's private equity fund market has expanded quickly in recent years. It jumped 15.1 percent year on year in 2018.

The steady expansion of the PE fund offers capital for enterprises to innovate and grow, said Hong Lei, head of the Asset Management Association of China.

China's PE industry is on a healthy growth track with improvements in the structure of PE managers, Hong said.