China wants more concentration in the industry and has called for the creation of ‘aircraft-carrier sized’ brokerages that can compete with the likes of Goldman Sachs. Photo: AFP

Big Wall Street firms circle as Chinese brokerages struggle for returns in US$21 trillion market

  • Poor returns are a result of fierce competition, conservative approach to riskier ventures and distaste for leverage
  • Seven to 10 top brokers might dominate the market, Shanghai Securities says
Topic |   Banking & Finance
China wants more concentration in the industry and has called for the creation of ‘aircraft-carrier sized’ brokerages that can compete with the likes of Goldman Sachs. Photo: AFP
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