China's securities firms make over $9b profit in H1

BEIJING - China's 126 securities firms made a total profit of 62.5 billion yuan ($9.4 billion) in the first half of 2016, data showed on Tuesday.

The profits were from a total business revenue of 157.1 billion yuan from January to June, according to statistics compiled by the Securities Association of China (SAC).

Over half of the revenue came from securities trading, underwriting, and sponsoring, SAC data showed.

Among the 126 securities firms that SAS follows, 117 were profitable in the first half of the year, the association said.

As of June 30, the 126 securities firms boasted total assets of 5.75 trillion yuan, were trusted with securities worth 29.9 trillion yuan and had cash deposits of 14.8 trillion yuan, according to SAC figures.