Listed Brokerages Get New Lift From Stocks
China’s listed securities firms saw their main profit source shift from commission fees to stock market investments last year, as tightening financial supervision squeezed their revenues from asset management, investment banking and brokerage services.
Financial reports of China’s 37 publicly traded securities firms indicated across-the-board decline in their commission fee revenues last year. But returns from securities investments soared, thanks to the stock market’s bull run, they reported.
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