Top Chinese research firm CEBM halts operations amid ‘nuclear winter’ in securities sector

Quick Summary:

The firm, which serves top mutual-fund houses, puts all employees on unpaid leave amid a Beijing crackdown on illegal behaviours and extravagance in the securities sector.

A Chinese flag flies outside the China Securities Regulatory Commission building in Beijing on February 8, 2024.

Some 51 publicly traded Chinese brokerages posted an average 23 per cent year-on-year decline in first-quarter profit as revenue decreased from the investment banking business.

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Article Details

Author / Journalist: Daniel Ren

Category: Business

Markets: Hong KongChina

Topics: Fund Cent Management Fees Market Clients China’s Research Securities Firm Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 19:30:20 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 611 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 31 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 21969609

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