An increasing number of listed Chinese companies purchased more financial products in 2016, media reports said on Thursday.

A total of 767 firms purchased various products from banks and securities companies worth over 726.88 billion yuan (105.7 billion US dollars), increasing 23 percent year-on-year and 39 percent, respectively, China National Radio's website reported on Thursday, citing industry data.

The increase was due mainly to lower costs and easier requirements for companies to raise funds.

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