www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

   

Expert: Market forces to squeeze China's securities sector

(Xinhua)
Updated: 2007-07-31 08:53

Market competition should drive the number of Chinese securities firms from 104 down to 30 to 50, says leading economist Wu Xiaoqiu.

Revenues generated by commissions on securities trading, driven by the booming stock market, rocketed to more than 80 billion yuan in the first half as against 460 million yuan in 2005, with 83 major firms earning 481 million yuan last year.

As commission revenues were the main income of securities companies, market fluctuation had easily pushed them into tight corners in 2005, when the stock market kept fell, said Cao Fengqi, director of the Research Center for Finance and Securities of Peking University.

Brokering, underwriting and investing were traditionally the three main businesses of securities companies, but small and middle-sized firms lacked the money to cannot afford to the latter two operations, Cao explained.

High commission revenues, generated by daily turnover of 200 billion yuan, were unusual and unsustainable as the stock market would stabilize and turnover would drop to about 100 billion yuan, said Wu, director of the Financial and Securities Institute of Renmin University.

Securities companies would go through a long, cruel and market-determined integration process based on core competitiveness, Wu said.

Companies could expand their revenue channels by integrating listed companies, underwriting and investing, Wu said.

However, small and medium-sized firms could focus on local clients and improve service quality to survive, Cao advised.

Chinese companies should realize that integration was a natural process and learn how to merge and achieve mutual benefits, Wu said.

The country's securities companies broke away from the banks to become independent in 1994.

In 2004, a campaign waged by the China Securities Regulatory Commission to eliminate securities companies involved in fraud, insider trading and other unethical practices reduced the number from 130 to below 110.


(For more biz stories, please visit Industry Updates)



主站蜘蛛池模板: 国产成人精品系列在线观看 | 亚洲第一se情网站 | 国产高清美女一级毛片久久 | 欧美日韩高清不卡一区二区三区 | 成人18免费软件 | 亚洲国产精品成人综合久久久 | 国产亚洲精品久久久久久无 | 国产在线不卡免费播放 | 成年人在线看片 | 伊人色综合久久天天网蜜月 | 亚洲男人的天堂视频 | 成人国产一区二区 | 亚洲a级片 | 狠狠五月深爱婷婷网 | 在线视频亚洲 | 888米奇在线视频四色 | 国产精品永久免费自在线观看 | 日本www高清 | 欧美成人午夜在线全部免费 | 久久com | 亚洲欧美手机在线观看 | 欧美一区视频 | 精品免费久久久久欧美亚一区 | 久久夜夜视频 | 日本强不卡在线观看 | 免费aⅴ片 | 国产精品欧美日韩 | 成人免费视频在线 | 亚洲欧美日本韩国综合在线观看 | 成年人在线免费网站 | 欧美一区二区三区精品国产 | 亚洲国产cao| 男人的天堂久久精品激情 | 久久久999国产精品 久久久99精品免费观看 | 2022国产精品自拍 | 成人免费小视频 | 国产成人一区二区三区影院免费 | 久久国产情侣 | 国产精品三级国语在线看 | 在线黄| 久久99精品这里精品3 |