Caixin OnlineFinance & EconomicsTop Stories Finance How Securities Firms Got 1 Tln Yuan from Banks in 2012
02.08.2013 13:54

How Securities Firms Got 1 Tln Yuan from Banks in 2012

Wealth management money is being rerouted through brokerage companies to hide lending, a practice that took off last year and worries industry experts
By staff reporters Zhang Yuzhe and Zheng Fei
 
A

(Beijing) – The amount of assets managed by Chinese brokerage firms soared last year, exceeding 1.2 trillion yuan by the end of December, up from 280 billion yuan at the beginning of the year, data from the industry group Securities Association of China shows.

However, most of those assets – 80 to 90 percent of the total according to some analysts' estimates – was tied to banks and had nothing to do with the brokers' investment ability.

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