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China Daily Website
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Brokerages see profits grow

Updated: 2013-07-16 22:02
By WU YIYAO in Shanghai ( chinadaily.com.cn)

The net profit of 114 brokerages stood at 24.47 billion yuan ($3.98 billion), up 8.1 percent year-on-year.

Statistics from the Securities Association of China showed that 99 companies, or 87 percent of the 114 brokerages, enjoyed net profits in the first half of 2013.

Combined revenue of the 114 brokerages was 78.53 billion yuan, up 11.2 percent year-on-year.

Brokers' traditional business took a hit from the weak stock market and worsening investor sentiment, but innovative activities, such as margin trading, could boost profits in the future, said analysts.

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