SHANGHAI, Dec 22 (Reuters) - China saw record issuance of exchange-traded funds (ETFs) this year, but cut-throat competition has pushed the average launch size of ETFs to their lowest in nine years, the official Shanghai Securities News reported on Wednesday. Fund houses launched 271 ETFs this year, raising a record 187.6 billion yuan ($29.44 billion), the newspaper said. However, the average ETF launch size was just 690 million yuan, hitting the lowest level in nine years, due to intense competition for investment, according to the article. More than 70% of the new ETF launches, or 192, raised less than 500 million yuan, the report said. There are currently 210 so-called mini-funds in China"s ETF market, with asset under management (AUM) of less than 200 million yuan, according to the paper.