Securities agencies see drop in revenue
The revenue of Chinese securities firms in the first half totaled 157.1 billion yuan ($23.59 billion), decreasing 52.5 percent year- on-year, according to data from the Securities Association of China on Tuesday. The net profit of the 126 securities firms in the first six months totaled 62.5 billion yuan, decreasing 59.2 percent year-on-year. Of them, 117 were profitable. At June 30, the total assets of Chinese securities firms stood at 5.75 trillion yuan and the market value of securities under their management totaled 29.9 trillion yuan.