BEIJING - The value of products registered by China's insurance asset management companies (AMCs) and private equity (PE) fund managers in the first 10 months of 2020 totaled 648.72 billion yuan ($98.61 billion), up 47.15 percent year-on-year, official data showed.

The number of products registered by 31 AMCs and 10 PE fund managers rose 66.14 percent year-on-year to 314 during the period, according to the Insurance Asset Management Association of China.

Among the total, 291 were registered for debt investment plans and nine for equity investment plans, with the fund size reaching 504.78 billion yuan and 20.02 billion yuan, respectively, the association said.

A total of 14 insurance PE funds were established in the Jan-Oct period, with the fund size reaching 123.92 billion yuan.

By the end of October, China's insurance AMCs and PE fund managers registered 1,647 products, with the fund size totaling nearly 3.83 trillion yuan, according to the association.