China creates US$230bil brokerage powerhouse as consolidation gathers pace

Quick Summary:

HONG KONG: The merger of two state-backed brokerages in China to create a sector leader with $230 billion in assets is part of Beijing's drive to consolidate the $1.7-trillion industry amid challenging markets, and the move is set to gather pace, analysts said.

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The deal is subject to regulatory and shareholders' approval.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaHong Kong

Topics: Markets Haitong /Business/Business News Guotai Junan Merger Citic Brokerage

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-06 @ 11:00:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 292 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22386540

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

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Year Established: 1971

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News Last Updated: 20 minutes ago

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Publisher ID: #22

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