Business Services Industry
Winners - Stop Press - securities trading in China - Brief Article
Business Asia, April, 2002
The Chinese Government has made it cheaper for the nation's 60 million investors to trade stocks by lowering brokerage charges and allowing brokers to set their own fees, introducing price competition in the securities industry for the first time. The China Securities Regulatory Commission said in a statement that fixed commission rates for the nation's 121 brokerage firms would be replaced by a fee range.
The change takes effect May 1. "It's good news for investors," said Fang Binying, a trader at Guotai Junan Securities Co. "We expect more people will buy shares."
COPYRIGHT 2002 First Charlton Communications Pty Ltd.
COPYRIGHT 2002 Gale Group
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