Securities sector sees profit surge to $7 billion

The Chinese securities industry recorded 44 billion yuan ($7.3 billion) in net profits in 2013, up 34 percent year-on-year, in spite of the IPO hiatus during the year, according to the statistics of the Securities Association of China.

The 115 securities companies registered 159.2 billion yuan in operational income, increasing by 23 percent from the same period in 2012.

The revenue generated by the interest of financing and securities loans grew by 2.5 times over the previous year.

The securities industry held 2.08 trillion yuan in total assets, 753.8 billion yuan in net assets, and 520.4 billion yuan in net capital, by the end of last December, which have all grew from the level in 2012.