2015 a risk management lesson for China’s securities firms: KPMG

Want China Times
Date: 2015-10-30
By: Xinhua

China’s securities companies had a good year in 2014 but this year’s volatility might give CA28N0048H_2015資料照片_N71_copy1them a lesson in risk management, according to a KPMG China survey published Tuesday.

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]

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