Core Viewpoint - The private equity fund management scale in China has reached a historical high of 22.15 trillion yuan, marking a significant growth in the industry [2][3]. Group 1: Private Equity Fund Management Scale - As of the end of December 2025, the number of registered private fund managers is 19,231, managing a total of 138,315 funds with a combined scale of 22.15 trillion yuan, an increase of 60 billion yuan from the end of November [3]. - The private securities investment fund managers number 7,531, while private equity and venture capital fund managers total 11,523 [4]. - The overall private equity fund industry has maintained stable growth throughout the year, with a notable increase of 1.31 trillion yuan in October alone [4]. Group 2: Monthly Registration and Cancellation - In December 2025, the new registration scale reached 98.9 billion yuan, with 2,087 new private funds registered [5][6]. - The number of private fund managers decreased by 1,058 compared to the beginning of the year, indicating an accelerated industry consolidation and a focus on regulatory compliance [4][8]. Group 3: Regional Distribution - Shanghai leads the nation in both the number of registered private fund managers and the management scale, with 3,629 managers and a total scale of 59,635.21 billion yuan [9][10]. - The top six regions in terms of fund management scale account for 75.76% of the total, with Beijing and Shenzhen following Shanghai [10][11].