Home | Business News | Browse by Publication | P | PR Newswire

China's Brokerage Industry in Bad Shape, but Policy Changes Raise Hopes.

Publication: PR Newswire
Publication Date: 27-MAY-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
HONG KONG, May 27 /Xinhua-PRNewswire-FirstCall/ -- Xinhua Far East China Ratings (Xinhua Far East), the pioneer in ranking credit risk among Chinese corporations using international standards, today announced its sector research report on China's brokerage industry.

The report revealed that the brokerage industry in China is in bad shape. Since 2002, among the 100 or so brokerages in China, seventeen securities companies have been sanctioned to close or put under external receivership due to severe non-compliance and financial distress. In addition, two brokerages are being restructured.

The audited financial statements of 50 brokerages published in through the interbank market or exchanges showed that this group of domestic brokerages, arguably relatively healthy players, reported a net loss of RMB 4.7 billion (USD 562 million) in 2004.

A fairly optimistic estimate would be that even...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from PR Newswire
Independence Community Bank Corp. Announces Twelfth Stock Repurchase P..., May 27, 2005
Provident Senior Living Trust to Hold Special Meeting of Shareholders ..., May 27, 2005
Postal Service Recognized Internationally for Best Industry Practices., May 27, 2005
20th Annual International Kite Festival Kicks Off The Summer Season., May 27, 2005

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.