China's mutual funds posted total losses of 439.75 billion yuan (around 64.69 billion U.S. dollars) in the first half of 2010, the highest since the second half of 2008, according to statistics from TX Investment Consulting Co. Ltd.

Equity mutual funds contributed most to the heavy loss. They reported 296.30 billion yuan in losses. In the first half, only money market mutual funds and bond funds have brought relatively high returns for investors. 

Despite the huge loss, some mutual funds' net value still witnessed growth after deducting changes in fair values. 

From January to June, China's stock markets fell over 25 percent, with 2.5 trillion yuan of market value vaporized. 

The huge amount of capital withdrawn caused a weak stock market, said Cheng Siwei, a well-known economist in China and former vice chairman of the NPC Standing Committee.