Huatai Securities Gains Large Hypothecated Loan from ICBC
Huatai Securities Co. Ltd. received a 20 million yuan stock-hypothecated loan from the Industrial and Commercial Bank of China (ICBC) on April 5 via the company's special seat on the Shenzhen Stock Exchange.
This was the first time a securities firm secured such a loan through its seat on the Shenzhen exchange.
Both parties said they expect further cooperation in accordance with the regulations of the central bank and the securities regulatory body.
The People's Bank of China, the country's central bank, officially approved the ICBC to engage in stock-hypothecated loans on March 30, and the ICBC granted a stock-hypothecated loan of 13. 68 million yuan to Guangfa Securities Co. Ltd. the next day.
Huatai Securities Co. Ltd. received a 20 million yuan stock-hypothecated loan from the Industrial and Commercial Bank of China (ICBC) on April 5 via the company's special seat on the Shenzhen Stock Exchange.
