China's brokerages report robust growth in H1

BEIJING -- Chinese securities firms recorded robust growth in the first half (H1) of 2020 over advanced capital market reform, according to the Securities Association of China.

China's 134 listed brokerages saw their H1 operating revenues reach 213.4 billion yuan ($30.5 billion), up 19.26 percent year on year, said the association. Besides, their net profits edged up 24.73 percent year on year to 83.15 billion yuan.

A total of 124 brokerages reported profit growth in the first half, statistics showed.

Securities firms, especially their investment banking business, have enjoyed the dividend from the country's capital market reform in the first half, according to the association.

By the end of June, the total assets of the 134 brokerages had reached 8.03 trillion yuan, with net assets standing at 2.09 trillion yuan.

According to the association, the net capital of the brokerages totaled 1.67 trillion yuan.

China has been stepping up reforms in the capital market to foster a healthier, more value-oriented investment style, with a string of measures supporting long-term investments.