China's bond funds outshine equity peers amid stock slump

China's mutual funds produced a mixed performance last year. Publicly offered equity funds endured a second straight year of losses, grappling with a prolonged stock market rout. Bond funds, on the other hand, had a comparatively stellar year.

The uptick in bond fund flows fueled a shift in China's asset management landscape, with mutual funds emerging as the most preferred asset management avenue, outstripping banking wealth management for the first time.