China brokers soar on A-share rebound

摘要

China's largest brokerage last week added to a series of stellar results from the mainland's securities industry, underlining the impact of a rebound in the A-share market on the country's financial sector. citic securities said profits grew 116% last year, after the months-long rally in equities lifted trading commissions and stock market listings gathered pace. CiticSec, which acquired stockbroker CLSA in 2013 and is preparing to raise around US$5bn of fresh equity in Hong Kong, is no outlier. Most of China's listed brokers that have published 2014 results so far have reported at least a doubling of full-year profits and these include HUATAI SECURITIES, INDUSTRIAL SECURITIES, SINOULINK securities and Guoyuan securities.