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Brokers' commission in Q1 surges over 70%

By Bi Xiaoning (chinadaily.com.cn)
Updated: 2009-04-01 14:27

Chinese securities firms' revenue from commission in the first quarter surged more than 70 percent over the previous quarter, helped largely by the recovery of the stock market.

Related readings:  Analysts bullish about H shares  Brokers under new rules  Survey: Investor sentiment index for China rises in Q4 of 2008  Chinese brokers' profits decline in 2008

Statistics from Gildata show that the brokerage firms' commission reached 25.4 billion yuan ($3.72 billion) in the first quarter, while the benchmark Shanghai Composite Index jumped about 30 percent in this period.

The firms' commission was over 10 billion yuan in February and March, with the active transaction of stocks, funds and warrants.