Specials

    Launch of Margin Trading, Short Selling

    (chinadaily.com.cn)
    Updated: 2010-03-31 15:05
    Large Medium Small

    Launch of Margin Trading, Short Selling

    Editor's Note: China launched its margin trading and short selling trial program on March 31 on the Shanghai and Shenzhen stock exchanges after four years of preparation.

    The margin trading and short selling trial business, together with stock index futures, are innovations by Chinese regulators to diversify the country's capital market.

    The day before the official launch of the trial program, CITIC Securities signed an agreement with Jiangsu Winfast Investment and Development Co Ltd, a securities asset management company, offering the latter credit limits of 28 million yuan ($4.1 million) for margin trading and 10 million yuan for short selling, the largest on this market so far. [Full Story]

    Watchdog

     

     

     

    Launch of Margin Trading, Short Selling
    People pose in front of the building of the China Securities Regulatory Commission. [Asianewsphoto]

    China approves index futures, margin trading

    China's securities regulator said Friday the State Council had approved "in principle" the launch of index futures and given the green light to pilot the margin trading business, in an attempt to boost the stable and healthy development of the capital market.

    The regulator would select the first batch of securities companies for the margin trading business soon, based on their net capital, risk control and regulatory management, said an official with the China Securities Regulatory Commission (CSRC). [Full Story]

    CSRC sets out rules on margin trading

    China's top securities regulator on Friday unveiled regulations on the pilot programs for the soon to be launched margin trading and short selling business.

    Securities firms must have at least 5 billion yuan in net assets and be rated as A-class in order to be qualified for the business.

    The regulator also required securities firms to have sufficient capital holdings and stocks of their own and have completed test runs of the trading network in order to conduct the business. [Full Story]

     Brokerages

     

     

     

    Launch of Margin Trading, Short Selling
    An outlet of CITIC Securities in Shanghai.

    Securities firms pass margin trading review

    All eleven securities brokerages have passed an expert panel's evaluation for margin trading and short selling, and will be able to apply for a pilot program for the business as soon as next week.

    The preliminary evaluation organized by the Securities Association of China (SAC) involved 21 experts, who reviewed the margin trading and short selling schemes of 11 securities brokerages competing for licenses to launch the business, including GF Securities, Citic Securities, Guotai Juan Secutiries, and Shenyin & Wanguo Securities. [Full Story]

    Brokerages apply for margin-trading pilot run

    The China Securities Regulatory Commission (CSRC) today begins to accept applications for a margin-trading and short-selling pilot program, the China Securities Journal reported.

    Sources at securities brokerages told the paper local offices of the CSRC completed an on-site inspection Wednesday at all 11 brokerages competing for the license to run the business and that the commission could finalize the qualification list next week. [Full Story]

    Six brokerages get nod for margin trading

    China's securities regulator announced Friday it approved six securities companies to pilot margin trading business.

    The approvals came more than two months after the State Council, the cabinet, gave the green light to pilot the business on a trial basis.

    The six securities companies are Guotai Junan Securities, Guosen Securities, CITIC Securities, Everbright Securities, Haitong Securities and GF Securities, said an official with the China Securities Regulatory Commission (CSRC), who asked not to be named. [Full Story]

    Analysis 

     

     

     

    Launch of Margin Trading, Short Selling

    Margin trading may bring in 90b yuan on A-share market

    The upcoming margin trading pilot program, which allows securities companies to lend stocks and money to investors, is likely to bring about a total of 90 billion yuan ($13.18 billion) to the A-share market in its initial stage, Securities Times reported on March 22, citing research by Sinolink Securities.

    Fan Xiangpeng, analyst with Sinolink Securities, told the newspaper that securities companies would use funds worth 30 percent to half of their net asset value in the margin trading business, and accordingly he estimated that the first batch of six brokerages' total funding in the business would likely reach 40 billion to 60 billion yuan.

    As the second batch of brokerages would soon get the green light from regulators to participate in the pilot program, the A-share market would get a total of 60 billion to 90 billion yuan from the margin trading business, Fan predicted. [Full Story]

    Other financial products  

     

     

     

    Launch of Margin Trading, Short Selling

     An investor at a securities firm in Shanghai. The program will boost business for brokerages and provide investors with hedging tools.[China Daily]

    Index futures

    The trading in the benchmark Shanghai-Shenzhen 300 stock index futures contracts will make its much-awaited debut on April 16, the China Financial Futures Exchange said on March 26.

    The first contracts to trade will be for May, June, September and December. Investors must pay cash deposits equivalent to 15 percent of the contract value for May and June contracts while the minimum trading margin for longer-term contracts is 18 percent, the exchange said in a statement posted on its website.

    The maximum price fluctuation was set at 10 percent above or below the benchmark listing price on the first trading day for May and June contracts and 20 percent for September and December contracts. [Full Story]

    ChiNext

    Twenty-eight small and medium-sized enterprises started trading their shares at China's NASDAQ-style market, ChiNext, in Shenzhen, Guangdong province on October 30, 2009.

    ChiNext was expected to provide more fund-raising channels for small and medium-sized businesses of high technology and high growth.

    The central bank and the whole financial system will consistently support ChiNext, said Zhou Xiaochuan, governor of the People's Bank of China, the central bank, at the trade opening ceremony. [Full Story]

     

     

     

     

    亚洲AV无码不卡在线播放| 国产成人亚洲综合无码| 成人无码免费一区二区三区| 久久久久综合中文字幕| 88久久精品无码一区二区毛片| 中文字幕无码毛片免费看| 中文字幕久久久久人妻| 丰满少妇人妻无码| 亚洲韩国精品无码一区二区三区| 国产中文字幕在线免费观看 | 日本aⅴ精品中文字幕| 久久久久亚洲AV片无码下载蜜桃| 少妇无码AV无码一区| 色综合天天综合中文网| 久久精品人妻中文系列| 亚洲精品无码久久久久AV麻豆| 人妻中文字幕无码专区| 亚洲级αV无码毛片久久精品| 无码乱肉视频免费大全合集| 欧美一级一区二区中文字幕 | 国产中文字幕在线视频| 无码视频在线播放一二三区| 午夜无码国产理论在线| 狠狠躁天天躁无码中文字幕| 亚洲av无码成h人动漫无遮挡| 亚洲Av无码专区国产乱码DVD | 久久久久久国产精品免费无码| 亚洲AV无码乱码国产麻豆| 一本色道无码道在线观看| 在线a亚洲v天堂网2019无码| AV色欲无码人妻中文字幕| 日韩中文字幕在线不卡| 中文字幕日韩人妻不卡一区| 亚洲成A人片在线观看中文| 亚洲伊人久久综合中文成人网 | 亚洲中文久久精品无码ww16| 亚洲国产综合精品中文第一| 中文资源在线官网| 中文字幕欧美日韩在线不卡| 最近中文字幕高清中文字幕无 | 亚洲欧美精品一区久久中文字幕|