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Economy

Chinese securities firms promise RMB55.3 bln assets to support private enterprises

May 05, 2019


Abstract : Chinese securities traders contributed assets totaling 55.3 billion yuan to support private enterprises’ development since the launch of series asset management plan, data from Securities Association of China (SAC) showed.

BEIJING, May 5 (Xinhua) -- Up to 54 Chinese securities firms have promised to provide 55.3 billion yuan assets in total to private enterprises since the securities industry launched an asset management plan to support the development of private enterprises, data from Securities Association of China (SAC) showed.

At present, private enterprises-related assets management plans and sub-plans of 29 secutries companies have invested in specific projects, with a total amount of 26.473 billion yuan, according to data from SAC.

The investments helped 92 listed companies and their major shareholders on the Shanghai and Shenzhen Stock Exchanges relieve their liquidity difficulties.

It is noted that the series of asset management plan is specially designed to help prospective listed companies to ease the difficulties of equity pledge, better serve the real economy, and support the high-quality development of China’s private economy, according to SAC. (Edited by Jiang Feifan)

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Keyword: financing securities-firms

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