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.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
COMMENTS (0)
Sign up to receive our free daily newsletter
Latest Issue
On the Cover:

Pulling the Plug

A government-backed shift to homegrown, open-source IT systems is helping Huawei and rattling IBM


Issue 79
July, 2014

POPULAR GALLERIES

SUBSCRIPTIONS

Caixin-China
Economics & Finance
Latest Issue:
Pulling the Plug
A government-backed shift to homegrown, open-source IT systems is helping Huawei and rattling IBM
Issue 79
07.01.2014

Subscribe       |       Newsletter        |        FAQ