Privatizing China by Fraser J. T. Howie

Author:Fraser J. T. Howie [Howie, Fraser J. T.]
Language: eng
Format: epub
Published: 2011-11-15T16:00:00+00:00

Source: CSRC, October 25, 2002.

The securities companies can also be divided into those controlled by central government entities and those by local governments and corporates, but ownership detail is very difficult to come by.25 The major state banks, however, were the principal promoters of the three national brokerages at their inception (Huaxia, Guotai, and Nanfang or Southern). By mid-2002, 162 listed companies had invested RMB14.8 billion in 80 securities houses, according to data provided by Wind Information. It is no surprise that the brokerages, large and small, are at the heart of the money flows, as shown in Figure 7.3.

FIGURE 7.3 Securities Companies are at the Nexus of Money Flows

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