Caixin
May 18, 2022 07:56 PM
FINANCE

Chinese Brokerages’ Digital Transformation Proves Easier Said Than Done

Major securities firms in China have made wide-ranging digital transformation a priority. Photo: VCG
Major securities firms in China have made wide-ranging digital transformation a priority. Photo: VCG

At the urging of the central government, Chinese brokerages are sinking cash into “digital transformation,” hoping that new technologies such as big data analysis will help them market their services more effectively, though high costs and muddled strategies are proving to be pitfalls.

Major securities firms, including Huatai Securities Co. Ltd., China International Capital Corp. Ltd. (CICC) and Citic Securities Co. Ltd., have made wide-ranging digital transformation a priority. Smaller peers, such as Chinalin Securities Co. Ltd., are starting with certain segments of their business.

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