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Curb on loans a double blow for Citic Sec, Haitong Sec

The total amount of shares purchased on margin in China has surged more than 10-fold in the past two years to a record 1.1t yuan.


CHINA'S biggest brokerages are getting squeezed on two fronts as regulators curb loans to equity traders. Not only does the three-month ban on new margin-trading accounts at Citic Securities Co and Haitong Securities Co reduce their potential earnings from lending to clients, it