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Brokerages earn windfall in commissions

MORE than half of China's brokerage firms earned over 100 million yuan (US$14.6 million) in commission income each in the first quarter of this year because of the booming stock market performance in the period.

Figures released yesterday by the Shanghai Securities News Data Center show China's 103 brokerage firms saw their total commission income hit 25.5 billion yuan in the first quarter, a 69.4-percent jump from the previous quarter.

The income for 58 brokerage firms exceeded 100 million yuan each, and about 20 percent of the total number of brokerages generated 500 million yuan each, according to the data center.

China's benchmark Shanghai Composite Index has gained 30.3 percent in the first quarter of this year.


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