Chinese brokers

China's brokers seek overseas expansion

Despite making losses at home, China's securities firms are seeking international expansion.
Citic Securities suffered an 80% drop in profits during the third quarter, but it nevertheless has plans to expand internationally AFP

With the weak A-share market depressing profits at home, China’s securities brokers are seeking to expand overseas in the footsteps of the country’s banks.

The big listed brokerages, in particular, are buying overseas securities firms and listing on the stock exchange in Hong Kong as they aim to diversify their funding and lay the foundations for future international businesses, according to KPMG, an accounting firm.

“Chinese brokers have strong networks and relationships across the country and are keen to...

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