China securities body finds 1t yuan error in Citic reports

Beijing

CITIC Securities Co, China's biggest brokerage, overstated some of its financial derivatives by more than one trillion yuan (S$220.1 billion) in monthly reports from April to September, the country's securities association said.

The Securities Association of China (SAC) said that Citic reported inaccurate numbers in statistical reports on over-the-counter equity swap deals partly carried out during the summer's stock market rout.