China Brokers Avoid Earning Impact From Market-Saving Stock Purchases

Chinese brokerage firms who bought shares to prop up the country's collapsing stock market last year will adopt an accounting rule to largely avoid any out-sized negative impact on their earnings, says Caixin magazine citing industry insiders. Last year, fifty Chinese brokerage firms provided RMB220 billion (US$34 billion) to China Securities Finance Corp, a government-controlled […]

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Read the original article: China Money Network