BEIJING — A total of 2,340 private equity (PE) products were newly registered in China in the first two months of this year, data from the Asset Management Association of China (AMAC) showed.

The number marked a surge of 82.67 percent from the same period last year.

China's asset management business expanded slower in recent years as authorities tightened regulations to contain risks arising from wealth management products.

Data from the association showed China had more than 24,000 PE fund management companies.

Established in 2012, the AMAC is a self-regulatory organization that represents the mutual fund industry of China.