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China's securities industry's profit down 49.23% in 2011

Jan. 25, 2012 (China Knowledge) - The 109 securities firms in China earned a total net profit of RMB 39.38 billion in 2011, reflecting a decline of 49.23% from 2010, according to the latest figures from the Securities Association of China.

The association said that 90 of the 109 securities companies booked profits last year.

The securities industry's operating revenue was RMB 135.95 billion in 2011, compared with RMB 191.10 in 2010. Revenue from securities brokerage business dropped to RMB 68.69 billion from RMB 108.49 billion in 2010.

Net income from securities underwriting and sponsoring and financial advising was RMB 24.14 billion last year, down from RMB 27.23 billion in 2010.

As of the end of last year, the 109 securities companies had total assets of RMB 1.57 trillion and net assets of RMB 630.26 billion. The principal managed funds totaled RMB 281.87 billion at the end of December 2011.

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