China stocks rise; surge in banks offset brokerage losses

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It should be a very positive to China bank, with a highly profitable biz of brokerage in China...

China stocks rise; surge in banks offset brokerage losses

(Reuters) - China's main stock indexes recouped early losses and posted their biggest daily gains in more than a week on Monday, as a surge in banking stocks offset losses in brokerages.

China's securities regulator said on Friday it is considering issuing brokerages licenses to banks, potentially creating a new revenue stream for lenders and intensify competition in the brokerage industry.

Investment bank China International Capital Corp (CICC) said in a report on Monday that Bank of Communications (BoComm) and Industrial Bank Co Ltd will likely become the first lenders to be awarded brokerage licenses in China.
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http://www.reuters.com/article/2015/03/0...0020150309
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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