Want China Times
The ninth annual survey by KPMG of 119 securities companies in mainland China found 2014 to have been a bumper year. Total income rose 64% year on year to 255.3 billion yuan (US$40.35 billion) while net profits rose 121% to 94.9 billion yuan (US$15 billion).
Reflecting the intense competition among brokerage firms, the survey showed a drop in the average commission rate. With further developments in internet finance and policy issuance, the average brokerage commission rate has room to decline further, it warned. [FULL STORY]