Stockbroker fined for naming client in criticism

A stockbroker has been docked two months' salary - nearly 1 million yuan ($161,000) - for comments he made about a bank's high profits.

Wang Dongming, chairman of CITIC Securities, the largest brokerage firm in China, made the barbed remarks at a finance forum in Beijing on Saturday.

Wang said that while banks' financial services are poor, their profits are high, and thus draining capital from the real economy, such as manufacturing, into the finance sector.