Listed China Brokerages’ Profits Surge Nearly 50% on Tech Rally

Net profits at Chinese mainland-listed brokerages surged nearly 50% to 155.4 billion yuan ($23.1 billion) in the first half of the year, fueled by lucrative tech investments.

Among the top players, Citic Securities Co. Ltd. reclaimed the profitability crown with 23.3 billion yuan, overtaking Guotai Haitong Securities Co.

Ltd., which retained the lead in total assets.