Stock Market Regulators Have Made Great Strides in Circulating China's Huge Non-Tradable Shares.
This report serves to provide foreign investors with an in-depth understanding of China's securities brokerage market. It consists of nine chapters and an appendix.
Chapter One gives readers a big picture of China's stock, fixed-income and investment fund market where securities companies derive their brokerage revenues. It also includes a special report analyzing the reasons for the country's bearish stock market.
Chapter Two is a business and financial review of China's securities companies. A special report on the current problems facing the business is included. Chapter Three elaborates on the structure of China's securities investors and their business cooperation with brokerages.
Chapter Four offers a framework of laws and regulations with regard to the industry, as well as an introduction to the regulators and related organizations. Chapter Five breaks down the business revenues of securities brokerages and illustrates the changes in revenue structure over time.
Chapter Six demonstrates the concentration situation of the brokerage market in terms of both revenue share and regional distribution.
Chapter Seven is a review of the development of two major brokerage business models in China: the traditional outlet-oriented model and the emerging but booming online trading model.
Chapter Eight introduces the financial profile and business performance of three major market players.
Chapter Nine offers an analysis of the development trends of China's securities brokerage market in terms of industry restructuring, the transforming business model and increasing foreign participation.
Finally, a complete directory of China's securities companies, regulators and related organizations can be found in the Appendix.
Many would agree that 2004 was the harshest winter for China's securities houses. This is not far from the truth. During that year, the industry's total losses increased to RMB 15 billion (US$1.81 billion), and a slew of securities houses collapsed amid persistent stock market weakness and stricter regulations.
The brokerage business has been the only bright side to this doom-and-gloom outlook. Compared with shrinking underwriting jobs and loss-making proprietary trading and asset management businesses, the brokerage sector still managed to achieve modest growth despite the year's difficult market conditions.
At present, China's stock market is undergoing profound structural changes. Stock market regulators have made great strides in circulating the country's huge non-tradable shares, as well as encouraging fund injection from various sources into the bourses. As the stock market advances in the right direction, the brokerage sector is bullish on growth.
To foreigners, the current slump facing local securities houses gives them an opportunity to exploit the vast potential of China's securities brokerage market. As the Chinese government resorts to influencing market forces in order to advance it financial reform roadmap, foreign institutions are set to play an increasingly active role in the sweeping restructuring of the local securities industry.
--Aijian Securities Co.
--Anhui Huamao Textile Co.
--Anshan Securities Co.
--Asia Securities Co.
--Aviation Securities Co
--Bohai Securities Co
--Capital-Bridge Securities Co.
--Changjiang Futures Co
--Changjiang Securities Co
--China Aviation Futures Co
--China Construction Bank
--China Eagle Securities Co.
--China Everbright Securities Co.
--China FAW Group Co.
--China Fortune Securities Co.
--China Futures Co
--China Galaxy Securities Co.
--China International Capital Co. (CICC)
--China Merchants Securities Co.
--China National Investment & Guaranty Co.
--China National Publication Import and Export (Group) Co.
--China Sci. & Tech. Securities Co.
--China Securities Co
--Chongqing Taiji Industry (Group) Co.
--CITIC Futures Co
--CITIC Group Co
--CITIC Securities Co
--CSFB (Credit Suisse First Boston)
--D'Heng Securities Co.
--Dalian Securities Co.
--Dazhong Transportation (Group) Co.
--Dinghe Venture Investment Co.
--Dixian Textile Co.
--Dongguan Securities Co.
--Dongwu Securities Co.
--Fuyou Securities Brokerage Co.
--Gansu Securities Co.
--Gao Hua Securities Co
--GF Futures Co
--GF Securities Co.
--Goldstone Securities Co
--Great Wall Securities Co.
--Guangcai Construction Group Co.
--Guangdong Securities Co.
--Guodu Securities Co
--Guolian Futures Co
--Guolian Securities Co
--Guosen Securities Co.
--Guotai Jun'an Securities Co
--Guotai Securities Co.
-- Guoyuan Antai Futures Co
--Guoyuan Holding (Group) Co
--Guoyuan Securities Co
--Hainan Securities Co.
--Haitong Securities Co.
--Hangzhou Financial Development Investment Group Co.
--Hantang Securities Co.
--Harbin Pharmaceutical Group Co.
--Hebei Securities Co.
--Hengxin Securities Co.
--Herong Futures Co
--HSBC (HongKong and Shanghai Banking Corporation),
--Huatai Securities Co.
--IFC (International Finance Corporation)
--Industrial Securities Co.
--Jilin Trust & Investment Co
--Jindi Futures Co
--Jintong Securities Co.
--Joint Futures Co
--Jutian Securities Co.
--Kinghing Trust & Investment Co
--Lianhe Securities Co.
--Liaoning Energy Investment (Group) Co.
--Long March Launch Vehicle Technology Co.
--Luoyang Securities Co.
--MF Securities Co.
--Min'an Securities Co.,
--Minsheng Securities Co.
--Minzu Securities Co.
--Northeastern Securities Co
--Orient Group Co.
--Pengxin Futures Co
--Ping An Futures Co
--Ping An Insurance (Group) Co
--Ping An Securities Co.
--Qinghai Gelatin Co.
--Shanghai Electric (Group) Co.
--Shanghai Industrial (Group) Co.
--Shanghai Industrial Investment (Group) Co.
--Shanghai Jiushi Co.
--Shanghai Municipal State-owned Asset Management Co.
--Shanghai Tobacco (Group) Co.
--Shantui Construction Machinery Co.
--Shanxi Huakang Trust & Investment Co.
--SHEnergy Group Co.
--Shenyin Wanguo Securities Co.
--Shenzhen Energy Group Co.
--Shenzhen Investment Holding Co. 5
--Southern Securities Co.
--Southwestern Securities Co.
--State Grid Co. of China
--Sun Futures Co Sun Securities Co
--Sun Securities Co.
--Tianfu Futures Co
--Tianhe Securities Brokerage Co.
--Tiantong Securities Co.
--Tianyi Securities Co.
--Tianyuan Securities Co.
--Wanheng Futures Co
--Weishen Securities Co.
--Wenhui-xinmin United Press Group Co.
--Wuhan Securities Co.
--Wuxi Guolian Development (Group) Co
--Xiamen Securities Co.
--Xiangcai Qinian Futures Co
--Xiangcai Securities Co.
--Xing'an Securities Co.
--Xinhua Futures Co
--Zhejiang Guoxin Holding Co
--Zhong Cheng Futures Co
--Zhongfu Securiteis Co.
For more information visit http://www.researchandmarkets.com/reports/c27206
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|Date:||May 2, 2006|
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