Brokers post 16.4% decline in earnings
By Verain Ye |
January 18, 2013, Friday
|
Print Edition
Print Edition
THE earnings of stock brokerages in China tumbled by an annual 16.4 percent last year due to a dwindling trading volume and a drought of new share listings, according to industry data.
The combined net profit of China's 114 brokerages fell to 32.9 billion yuan (US$5.3 billion) in 2012, while their gross operating revenue shed 4.8 percent year on year to 129.5 billion yuan, data from the Securities Association of China showed.
The brokerages' earnings had been eroded by weak trading activity amid a sluggish stock market, with broking income, the primary source of their revenue, falling 26.8 percent from a year earlier to 50.4 billion yuan.
Income from underwriting and sponsorship dropped 26.5 percent year on year to 17.7 billion yuan because the initial public offering market stalled last year.
Their income from margin trading and short selling was 5.3 billion yuan in 2012, taking up 4 percent of the total revenue.
China's securities regulator has unveiled several reforms, including launching a refinancing mechanism for margin trading and short selling as well as widening the investment scope for brokers' proprietary business.
The combined net profit of China's 114 brokerages fell to 32.9 billion yuan (US$5.3 billion) in 2012, while their gross operating revenue shed 4.8 percent year on year to 129.5 billion yuan, data from the Securities Association of China showed.
The brokerages' earnings had been eroded by weak trading activity amid a sluggish stock market, with broking income, the primary source of their revenue, falling 26.8 percent from a year earlier to 50.4 billion yuan.
Income from underwriting and sponsorship dropped 26.5 percent year on year to 17.7 billion yuan because the initial public offering market stalled last year.
Their income from margin trading and short selling was 5.3 billion yuan in 2012, taking up 4 percent of the total revenue.
China's securities regulator has unveiled several reforms, including launching a refinancing mechanism for margin trading and short selling as well as widening the investment scope for brokers' proprietary business.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
