Chinese Securities Brokers Go On-lineTwo Chinese securities brokers, Qinghai Securities Co. and Huatai Securities Co., recently announced the opening of their on-line stock trading systems.Qinghai Securities, based in Qinghai Province in western China, will provide on-line brokerage services through its website relatively small brokerage, the company plans to transform itself into the first in China with on-line trading as its main business. Zhong Xiaojian, general manager of Qinghai Securities, said his company is trying to create a new way of developing for a small brokerage in an increasingly competitive market. Huatai Securities Company, a broker-dealer based in Nanjing in east China's Jiangsu Province, is engaging in on-line trading through its website. The company claims that over the past month it has attracted 40, 000 on-line customers and brokered 100 million yuan (US$ 12.05) in on-line trading, accounting for 10 percent of its total brokerage value for the period. |
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