Bear Market Saps Chinese Brokerages’ 2022 Earnings

As China’s stock and bond markets took a tumble in 2022, many domestic securities companies saw their revenue and profit shrink, owing largely to lower returns on their own investments.

Last year, the total net profit of 140 securities companies fell 26% to 142 billion yuan ($21 billion), according to unaudited data recently released by the Securities Association of China. Their combined revenue dropped 21% to 395 billion yuan.