证劵行业2017

1. Mainland China Securities Survey 2017 二零一七年 中国证券业 调查报告 Financial services 金融服务 kpmg.com/cn
3. Contents 目录 01 Introduction 引言 02 Market overview 市场回顾 03 Market trends: Opportunities and challenges 市场动态:机遇与挑战 04 Key industry topics: Innovation and new regulations 行业热点:创新稳步推进,监管新规频出 05 Conclusion 结语 06 Appendix 附录 Appendix 1 附录1 Appendix 2 附录2 Appendix 3 附录3 Appendix 4 附录4 Appendix 5 附录5 Appendix 6 附录6 Appendix 7 附录7 Appendix 8 附录8 Appendix 9 附录9 Appendix 10 附录10 Appendix 11 附录11 Financial highlights 财务摘要 2016 sector rankings 二零一六年行业排名 Overview of Sino-foreign joint venture securities players 中外合资证券公司一览 2017 grading of securities companies by the CSRC 2017年证监会对证券公司的评级 Qualified foreign institutional investors 合格境外机构投资者 RMB qualified foreign institutional investors 人民币合格境外机构投资者 Qualified domestic institutional investors 合格境内机构投资者 Mainland futures companies 内地期货公司名单 Mainland fund management companies 内地基金公司名单 Subsidiaries of mainland fund management companies 内地基金公司子公司名单 Securities companies with Hong Kong subsidiaries 设立香港子公司的证券公司 07 Contact us 联系我们 01 05 25 41 55 59 61 107 115 117 119 131 139 145 151 155 159 161
4. 1 Mainland China Securities Survey 2017 01 Introduction 引言 © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
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6. 3 Mainland China Securities Survey 2017 Introduction 2016 was a year of consolidation for the China securities sector with market conditions relatively calmer compared to a busy 2015. While 2015 experienced record A-share turnover, high levels of investor enthusiasm, and rapid industry growth, 2016 started off in a very different note when the circuit breaker mechanism was triggered twice in the first week of trading. The securities sector, however, managed to recover from the early volatility by seizing the opportunities generated by supplyside reforms, continued privatisation of state-owned enterprise and an accelerated approval of initial public offerings (IPOs). According to Securities Association of China (SAC) data, the securities sector realised operating income of RMB 328.6 billion (company level) and total profits of RMB 123.2 billion in 2016. While they were 43 percent and 50 percent lower than 2015, respectively, the 2016 numbers were, in fact, still the third highest annual figures on record – behind only 2015 and 2007. The total assets of securities companies stood at RMB 5.8 trillion, representing a year-onyear decrease of 10 percent, while net assets amounted to RMB 1.65 trillion, a year-on-year increase of 13 percent. The relatively stable growth in net assets was a reflection of the consolidation of the securities sector in 2016. Significant changes were seen in the income structure of various businesses within the securities sector. Lower transaction volumes in the stock markets weighed on the brokerage business with their contribution to overall income declining to 34 percent from 48 percent in 2016. Nonetheless, it remained the largest source of income for securities companies. Benefiting from state policies such as an accelerated approval of IPOs and corporate/enterprise bonds, the investment banking segment realised net income of RMB 68.1 billion, a year-on-year increase of 30 percent. Investment banking accounted for 21 percent of total income in 2016, up from nine percent. Supported by a stable monetary supply and growing residential wealth, the asset management segment recorded net income of RMB 29.9 billion in 2016, representing a year-on-year increase of 9 percent, and accounted for 9 percent of total income, up from 5 percent. However, income from proprietary trading, margin financing and securities lending businesses went down in 2016. The tightening of regulations was the theme of the securities market in 2016. The promulgation of the Management Measures on Risk Indicators of Securities Companies and the Measures on Major Asset Restructuring of Listed Companies, the new eight ‘bottom lines’ regulatory requirements for the asset management business, comprehensive regulatory inspections as well as a record number of fines, showcased the regulators’ resolve to stabilise the market and mitigate risk. Securities companies are actively exploring opportunities to innovate their businesses, make strategic transformations, while, at the same time, strengthen their own risk management. For example, many are gradually shifting their focus from being a funding channel provider for their clients to wealth management. Securities companies are also improving their active management capabilities in order to improve the product structure of their asset management business. The accelerated development of the proprietary Fixed Income, Currencies and Commodities (FICC) business has become a new growth driver for securities companies. Meanwhile, the expansion of international networks is creating new opportunities , while the industry is also embracing the changes digitalisation has brought about to their businesses. China is entering a new phase of development and the new normal is characterised by a slowdown in economic growth. Some industries are being affected by structural changes, while the effects of past stimulus policies are beginning to take shape. The securities sector plays an important role in the ongoing supply-side reforms as it helps to support real economic development by improving the financing efficiency of the society. Moreover, securities companies can rely on their capital markets expertise to strengthen their collaboration with the corporate sector. This report is the 11th Mainland China Securities Survey issued by KPMG China. It was prepared based on the 2016 financial statements of 129 securities companies in Mainland China, released by the SAC. © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
7. 二零一七年中国证券业调查报告 4 引言 过去一年,中国证券行业整体处于休养生 息阶段。2015年中国A股市场达到历史天 量的成交额、投资者空前的投资热情以及 证券公司各项业务的爆发式增长于2016 年回归常态,甚至在经历了年初的两次熔 断等事件后,证券市场及行业曾一度低 迷。然而,随着国内供给侧改革、国企混合 所有制改革的深化以及IPO提速等诸多 红利的释放,中国证券行业抓住机遇,最 终取得了不俗的成绩。 根据中国证券业协会各家证券公司经审 计的年报数据汇总,2016年证券行业实 现营业收入和净利润分别为人民币3,286 亿元和人民币1,232亿元(母公司财务报 表口径,下同),尽管较2015年分别下降 了43%和50%,但其依然是证券行业历史 上盈利水平较高的一年,仅次于2015年 与2007年两轮大牛市。证券公司的总资 产合计为人民币5.8万亿元,较上年下降 了10%;净资产为人民币1.65万亿元,较 上年增长了13%,相对平稳的净资产规模 亦体现了2016年证券行业总体修整与巩 固的状态。 2016年证券行业各项业务的收入结构发 生了较大变化。曾经占据“半壁江山”的经 纪业务受制于两市交易量的萎缩,占收入 总额的比重较上年下降了14个百分点至 34%,但仍然是证券公司收入的第一大来 源。而得益于IPO提速常态化、公司债企 业债审核效率的提升等政策红利,投资银 行业务在2016年实现净收入人民币681 亿元,较上年增长了30%,收入占比也较 上年增长了12个百分点,达21%;在货币 市场供给稳定和居民财富不断增长的支 撑下,资产管理业务在2016年实现净收 入人民币299亿元,较上年增长了9%,收 入占比增长了4个百分点至9%。此外,自 营业务和融资融券业务收入则因为受市 场行情影响在2016年有一定幅度的下 降。 加强监管是2016年以来证券市场的主旋 律。从《证券公司风险控制指标管理办法》、 《上市公司重大资产重组办法》等法规的 修订颁布、资产管理业务新“八条底线”的 出台,到“无死角”的监管检查、历史新高 的监管罚没款,无不彰显监管机构稳定市 场、防范风险的决心。 证券公司在加强风险管理的同时,亦积极 探索着业务创新与战略转型。传统的经纪 业务正由单纯的提供交易通道逐步向财 富管理转型;资产管理业务的加强主动管 理使得产品结构逐步优化;自营FICC业 务的加快布局为证券公司带来了新的利 润增长点。国际化业务网络的持续扩张开 启了证券公司全球化经营的无限可能;信 息科技大浪潮持续,有效助力业务跨越式 发展。 目前中国处于“三期叠加”及经济发展新 常 态 。作 为 国 家 供 给 侧 改 革 等 发 展 战 略 的坚强后盾,证券行业被赋予了支持实体 经济发展,提高全社会融资效率的重要使 命。证券公司应当充分利用丰富的资本市 场运作经验和专业的人才队伍,发挥多元 化和综合化的金融中介服务优势,加强与 企业的相互依存度,有效实现互促互进和 协同发展。 本报告是毕马威中国发表的第十一份年 度中国证券业调查报告。本报告是根据中 国证券业协会(“证券业协会”)官方网站 (www.sac.net.cn)上公布的129家内地证 券公司2016年财务报表而编制的。 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
8. 5 Mainland China Securities Survey 2017 02 Market overview 市场回顾 © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
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10. 7 Mainland China Securities Survey 2017 The securities sector realised net profit after tax of RMB 123.2 billion in 2016, representing a year-on-year decrease of about 50 percent (company level, same below, Chart 1). Declining turnover in both the Shanghai and Shenzhen stock markets dragged the profits of brokerage and proprietary trading businesses down. The removal of the ‘one person, one account’ restriction also fuelled competition among industry players with securities companies lowering commission rates to attract customers and improve market share. The prevalence of online accounts and increasing cooperation between internet firms and securities companies also contributed to the decline in commission rates (Chart 2). Chart 1 Total net profit of securities companies in Mainland China (RMB billion) Sources: Financial statements of securities companies and KPMG China analysis Chart 2 Market turnover and average brokerage commission rates Sources: Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), SAC and KPMG China analysis © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
11. 二零一七年中国证券业调查报告 8 2016年,证券公司全行业实现税后净利润人民币1,232亿元(母公司财务报表口径,下 同),较2015年减少了约50%(见图表1)。行业利润较上年大幅下降主要源于2016年A 股行情回落,两市股票交易量下降,从而造成的经纪业务和自营业务利润的下降。另 外,2016年证券经纪业务竞争激烈,在“一人多户”政策的刺激下,各券商纷纷通过降 低佣金费率的方式抢占市场份额,同时网上开户的普及和互联网与券商的合作,都不 同程度地导致券商佣金率进一步下滑(见图表2)。 图表1 历年中国证券公司实现的净利润(人民币十亿元) 数据来源:证券公司财务报表,毕马威分析 图表2 市场交易额与经纪业务平均佣金率的变动 数据来源:上海证券交易所(上交所),深圳证券交易所(深交所),中国证券业协会,毕马威分析 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
12. 9 Mainland China Securities Survey 2017 Based on an analysis of the 2016 income figures of the core businesses of domestic securities companies (Chart 3), the share of brokerage fees as a proportion of total operating income declined to 34 percent from 48 percent (2015). This was the result of an around 50 percent reduction in turnover in both the SSE and SZSE as well as the decline in commission rates driven by the removal of the ‘one person, one account’ restriction in 2015. The share of proprietary trading and other investment businesses, on the other hand, fell to 22 percent from 26 percent.The investment banking segment picked up in 2016 with the total amount of IPOs and follow-on offerings reaching RMB 1,892.60 billion, which was a year-on-year increase of 127 percent. The share of investment banking as a proportion of total operating income grew to 21 percent from nine percent, whereas asset management went up to nine percent from five percent. However, this was in spite of the fact that most in the industry adopt passive management in which commission rates tend to be lower. The asset management business is expected to play a bigger part in the future as securities companies improve their active management capabilities. Chart 3 Income composition of domestic securities companies Sources: Financial statements of securities companies and KPMG China analysis © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
13. 二零一七年中国证券业调查报告 10 从各项主要业务占总营业收入的比重看(见图表3),由于2016年沪深两市交易量较 2015年下降约50%,且平均佣金率受一人一户限制的放开继续下滑,经纪业务占收入 的比例较上年下降14%;由于2016年A股市场总体呈下降趋势,自营及其他投资业务 占收入的比例下降4个百分点,反映在市场下行时券商自营较其他投资业务的主动管 理能力较弱;2016年IPO发行速度加快,2016年A股市场首发及再融资金额合计超过 18,926亿元人民币,较2015年增加了127%;投行业务占收入的比例较上年上升12个 百分点;另外由于资产管理业务规模的不断扩大,资产管理业务占收入的比例较上年 上升4个百分点,但主动管理能力仍待加强。 图表3 国内证券公司历年收入结构分析 数据来源:证券公司财务报表,毕马威分析 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
14. 11 Mainland China Securities Survey 2017 Some of the major foreign investment banks have been operating for more than 100 years. As a result of their long history, they have developed business models that are relatively more diverse in terms of revenue streams (Chart 4). With transaction volumes in China’s securities markets declining in 2016, the share of the brokerage business as a proportion of total operating revenue has also gone down even though it remains a key business segment. For those well-developed foreign investment banks, asset/wealth management is an important source of revenue. In comparison, the low income contribution of asset management for domestic securities companies shows that there is huge room for growth in China. Proprietary trading and other investment businesses are also important sources of income for foreign banks, reflecting their strong investment capabilities. The emergence of a multi-layered securities market in China suggests there is room for development in valueadded services such as wealth management, mergers & acquisitions (M&A), restructuring, and financial advisory. Chart 4 Income composition of domestic securities companies and some global investment banks in 2016 Sources: Financial statements of relevant companies and KPMG China analysis © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
15. 二零一七年中国证券业调查报告 12 国外主要投资银行历经了百年的发展历史,至今已经具备了相对完善和成熟的经营模 式和相当的资产规模,各项业务齐头并进,发展比较均衡(见图表4)。与之相比,尽管 2016年度中国证券市场交易量回落,证券行业经纪业务收入占全部收入的比例较上 年有所下降,但依然占据重要位置。值得一提的是,资产管理业务对于国外成熟投行的 收入贡献较高,充分反映了国外证券公司吸引客户资金、主动管理资金的能力,而国内 证券公司资产管理业务收入占比较低,仍存在巨大的发展空间;自营及其他投资业务 在国外成熟投行的业务收入中也占有一定席位,反映出国外投资银行稳定的投资能 力。随着多层次证券市场的发展,财富管理、并购重组、财务顾问等一系列增值服务仍 有可观的增长空间。 图表4 2016年国内证券公司与国际主要投资银行各项收入结构分析 数据来源:相关公司财务报表,毕马威分析 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
16. 13 Mainland China Securities Survey 2017 The A-share market had a volatile start to 2016 with the circuit breaker mechanism triggered twice in the first week of trading. The SSE Composite Index and the SZSE Component Index plummeted from 3,539.18 and 12,664.89 at the end of 2015 to 2016 lows of 2,638.30 and 8,986.52 in January, respectively. The two indices closed the year at 3,103.64 and 10,177.14, respectively, which were year-on-year decreases of 12 percent and 20 percent. Transaction volumes shrunk in 2016 as investor sentiment was dampened by the volatile markets. The combined turnover of Shanghai and Shenzhen markets stood at RMB 127.4 trillion, which translated to a year-on-year decline of 50 percent, with the SZSE contributing more than the SSE (Chart 5). Chart 5 Market turnover and stock indices Sources: SSE and SZSE © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
17. 二零一七年中国证券业调查报告 14 2016年,A股市场经历宽幅振荡,年初自触发熔断机制后引发股市大幅下跌,上 证指数和深证成指在短时间内由2015年末3,539.18点和12,664.89点下跌至最低 2,638.30点和8,986.52点,经过一系列的震荡调整之后,上证指数和深证成指于 2016年12月31日分别报收于3,103.64点和10,177.14点,较上年末累计下降12%和 20%。 随 着 2 0 1 6 年 市 场 行 情 回 落,A 股 市 场 投 资 者 交 易 热 情 和 市 场 成 交 量 降 幅 较 大。2016年,沪深两市全年总成交额达人民币127.4万亿元,同比下降50%。深交所 全年总成交额略大于上交所全年总成交额(见图表5)。 图表5 股票成交额及市场指数 数据来源:上交所、深交所 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
18. 15 Mainland China Securities Survey 2017 In 2016, total fundraising in the exchange market was RMB 4,822.3 billion, which was a year-on-year increase of 62 percent. RMB 1,727.7 billion was raised through follow-on offerings, representing a year-on-year increase of 156 percent, while RMB 2,931.2 billion was from bond issuance - an increase of 36 percent from the previous year. Against a backdrop of accelerated IPO approvals, a total of 227 companies listed in 2016, the most since 2012 and raising approximately RMB 163.4 billion. This accounted for three percent of the domestic exchange market’s total fundraising (Chart 6). Chart 6 Domestic exchange market fundraising Source: China Securities and Regulatory Commission (CSRC) Bond issuance © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
19. 二零一七年中国证券业调查报告 16 2016年度国内证券交易所筹资额达人民币48,223亿元,较2015年度增加62%,其中通 过股票增发融资人民币17,277亿元,较2015年增加156%。通过交易所市场债券融资 人民币29,312亿元,较2015年增加36%。2016年随着IPO审核提速,2016年共227家企 业在A股完成IPO,创下自2012年以来的最高记录,总募资规模约1,634亿元,占国内证 券交易所融资总额的3%(见图表6)。 图表6 国内证券市场筹资统计 数据来源:中国证券监督管理委员会(以下简称“中国证监会”或“证监会”) © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
20. 17 Mainland China Securities Survey 2017 Funds raised from the securities market in 2016 were equivalent to 6.21 percent of China’s gross domestic product (GDP) (Chart 7), sustaining the momentum of 2015. The significantly higher amount of follow-on offerings coincided with a decline in A-share market capitalisation that was the result of a drop in valuations. As at the end of 2016, the A-share market had a combined value of approximately RMB 50.82 trillion, of which tradable A-shares accounted for about RMB 39.33 trillion. This equates to roughly 53 percent of China’s 2016 GDP, down from 59 percent in 2015. Chart 7 A-share market capitalisation and exchange market fundraising as a proportion to China’s GDP Proportion of tradable A-shares to China’s GDP Exchange market fundraising to China’s GDP Proportion of tradable A-shares to China’s GDP Sources: CSRC and National Bureau of Statistics of China Exchange market fundraising to China’s GDP © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
21. 二零一七年中国证券业调查报告 18 从占国内生产总值的比例看,2016年的国内证券市场筹资总额占国内生产总值的 6.21%(见图表7),延续了2015年的增长趋势。 虽然2016年股票增发融资额大幅提高,受限于2016年市场行情下行,A股股票市值相 比2015年有较大回落。截止2016年底,中国A股股票市值约人民币50.82万亿元,其中 流通股票市值约人民币39.33万亿元,占2016年中国国内生产总值的53%,相比2015 年下降6个百分点。 图表7 A股流通市值及证券市场融资额占国内生产总值比重 数据来源:中国证监会、国家统计局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
22. 19 Mainland China Securities Survey 2017 The National Equities Exchange and Quotations (NEEQ), or the ‘New Third Board’, maintained its momentum in 2016 with a high number of stocks listing on the board. As at the end of 2016, there were 10,163 companies listed on NEEQ (Chart 8), which was a year-on-year increase of 98 percent. The number of NEEQ-listed companies was also 3.6 times the combined number of companies listed on the SSE and SZSE. In addition, the aggregate number of shares in the NEEQ reached 585.2 billion shares, which was a 98 percent surge compared to 2015. The NEEQ’s annual turnover, on the other hand, was RMB 191.23 billion, similar to 2015. Chart 8 Accumulative number of stocks listed on NEEQ in 2016 Sources: NEEQ © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
23. 二零一七年中国证券业调查报告 20 2016年,全国中小企业股份转让系统(以下简称“新三板”)延续了2015年飞速发展的 趋势,挂牌企业数量显著增长。2016年底,新三板挂牌企业总数超过一万家大关,达到 10,163家(见图表8),已达到上交所及深交所的上市公司总数的3.6倍,同比2015年增 长98%,挂牌企业总股本达到5,852亿股,同比2015年增长98%,2016年全年成交额达 到人民币1,912.3亿元,与2015年基本持平。 图表8 2016年全国中小企业股份转让系统挂牌企业累计数量 数据来源:全国中小企业股份转让系统 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
24. 21 Mainland China Securities Survey 2017 As stock prices trended lower, the margin financing business declined in 2016. As at the end of 2016, the balance of margin financing stood at RMB 935.8 billion, representing a 20 percent decrease compared to end-2015. The securities lending business improved slightly from RMB 2,960 million at end-2015 to RMB 3,479 million at end-2016 (Chart 9). Chart 9 Quarter-end balance of margin financing and securities lending on SSE and SZSE Margin financing Securities lending Sources: SSE and SZSE © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
25. 二零一七年中国证券业调查报告 22 随着两市行情的回落,2016年融资业务量有所下降。截至2016年底,融资业务余额为 人民币9,358亿元,较2015年底的人民币11,697亿元,减少20%。融券业务在2016年略 有回升,融券规模从2015年底的人民币29.60亿元回升至2016年底的人民币34.79亿 元,同比上升18%(见图表9)。 图表9 2011年3月至2017年3月沪深两市季末融资融券余额 融资余额 融券余额 数据来源:上交所、深交所 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
26. 23 Mainland China Securities Survey 2017 From the second half of 2015 to the end of 2016, the China Financial Futures Exchange (CFFEX) tightened regulatory requirements to curb excessive speculation in stock index futures. This comprised of four measures restricting the intraday position opening, raising the margin requirements for futures contracts, significantly increasing the commission fees for positionclosing transactions, and enhancing the management of accounts inactive for a given period of time, the transaction volume of stock index futures restricted as a result. CFFEX gradually restored the stock index futures hedging risk function in February 2017 when some of the measures were relaxed. Chart 10 Stock index futures: transaction volume and turnover Transaction volume Average monthly transaction volume Average monthly turnover Turnover Source: CFFEX Securities companies have been rapidly developing their asset management businesses in recent years as the industry continues to gain prominence in the country. As at the end of 2016, the combined size of assets under management (AUM) of securities companies, fund management companies and their subsidiaries was RMB 34.48 trillion - a year-on-year increase of 39.4 percent (Chart 11). Chart 11 Assets under managment Asset management of securities companies Segregated accounts of fund management companies’ subsidiaries Source: Asset Management Association of China (AMAC) Segregated accounts of fund management companies Asset management of futures companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
27. 二零一七年中国证券业调查报告 24 自2015年下半年至2016年底,为了平稳市场抑制投机,中国金融期货交易所接连收紧 监管标准,出台包括调整股指期货日内开仓限制标准、提高股指期货各合约持仓交易 保证金标准、大幅提高股指期货平仓手续费标准和加强股指期货市场长期未交易账户 管理在内的四项严格管控措施,因此2016年股指期货成交量大幅缩减。2017年2月中 国金融期货交易所松绑部分股指期货相关标准,逐步恢复股指期货对冲风险的功能。 图表10 2011年以来股指期货交易情况 数据来源:中国金融期货交易所 随着“大资管时代”的全面开启,证券公司资产管理业务迅猛发展,近年各类资产管理 产品规模均有较快增长。2016年底证券公司、基金公司及其子公司资产管理业务规模 合计34.48万亿,较2015年增长39.4%。(见图表11) 图表11 近三年资管产品规模统计 数据来源:中国证券投资基金业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
28. 25 Mainland China Securities Survey 2017 03 Market trends: Opportunities and challenges 市场动态: 机遇与挑战
29. 二零一七年中国证券业调查报告 26
30. 27 Mainland China Securities Survey 2017 3.1 The rise of wealth management The combination of increasingly fierce competition and the pervasive use of internet technology had a negative impact on the commission rate of traditional brokerage businesses. Securities companies are under pressure to change and many are shifting their focus towards wealth management. The accumulation of residential wealth amid sustained economic growth has given rise to a large number of high-net-worth individuals in China. In addition, certain capital remains untapped as China undergoes structural adjustments. All these factors, together with lower property price hike expectations, has stimulated demand for financial/ wealth management products. The profit model of the wealth management business has also expanded from a single-source model. Many now have diverse structures based on commission and other fees charged on higher valueadded products and services such as investment advisory services. As securities companies continue to make the transition to wealth management, their clientele are also changing from individual investors to high-net-worth individuals and institutional clients. The addition of higher-end clients and their demand for diversified financial services are accelerating securities companies’ transition from a channel provider to a diversified and integrated financial services platform. Many find it necessary to adjust the organisational structure of their brokerage outlet from a ‘businessbased’ model to one that is based on customer values, which focuses on providing clients with high quality services and experience. Brokerage outlets are now positioned as wealth management and institutional services centres to sell financial products and provide a full range of integrated financial services, including wealth management and investment advisory. The increased focus on wealth management has also driven the development of a series of related businesses, including financial product sales, asset management, investment management, as well as prime brokerage (PB). Securities companies are actively developing their PB business to provide highend institutional clients (e.g. hedge funds) one-stop integrated financial services, including centralised custodianship and settlement, back office operations and research support. In view of the increasing number of private equity firms and large issuance scale, the PB business is fast becoming a new growth pole for securities companies. The growth of the wealth management business is a positive move as the industry is still in the process of developing an innovative and profitable business model.The overseas acquisitions made by Huatai Securities in 2016 and Everbright Securities in 20171 are examples of major strategic initiatives of securities companies making the transition to the wealth management business. In order for such transitions to be successful, it is important for securities companies to establish an integrated service platform focused on wealth management that is complimented by other businesses. This requires the backing of an multidisciplinary team of financial services professionals, while companies should also learn from successful overseas peers. 1. Huatai Securities acquired AssetMark Inc, a US-based wealth management technology provider in 2016. Sun Hung Kai Financial Limited, which is 70 percent owned by Everbright Securities, acquired North Square Blue Oak Ltd, an UK institutional brokerage and research firm in 2017. © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
31. 二零一七年中国证券业调查报告 28 3.1 财富管理业务快速发展 随着市场竞争日趋激烈和互联网技术的 业网点由单纯的通道提供商向多元化 冲击,证券公司传统经纪业务的佣金率 综合金融服务平台转型的进一步提速。 水平普遍下降,依靠传统经纪业务盈利 证券公司 需要将营业部的组织架构由 模式的获利空间越来越小,因而面临着 “以业务为中心”变革为“以客户价值为 转型压力。同时,随着经济持续增长,居 中心,以专业服务为核心竞争力”,将营 民财富快速积累,涌现了大批高净值客 业部定位为财富管理中心和机构业务中 户,经济结构调整也导致产业资本领域 心,为客户提供金融产品销售、特定资讯 出现部分闲置资金,房地产快速上涨预 服务、投资顾问服务以及财富管理等全 期的弱化促使居民对金融产品的需求日 方位综合金融服务。 益增强,因而传统经纪业务向财富管理 业务逐步转型并向纵深发展,证券公司 财富管理盈利模式也从单一通道佣金向 高附加值产品服务下的佣金和收费并举 进行转换。 除此之外,传统经纪业务向财富管理业 务的转型亦推动了一系列业务的进一 步 发 展,不 仅 带 动 了 代 销 金 融 产 品 、资 产管理、投资管理等业务,也给主经纪商 (“PB”)业务带来巨大发展空间 。证券 在传统经纪业务转型影响下,客户类型 公司纷纷积极布局PB业务,向对冲基金 由散户向高净值客户和机构客户转变, 等高端机构客户提供集中托管清算、后 这些处于高端业务链的优质客户资源和 台运营、研究支持、资本引荐等一站式综 多样化的金融服务需求也带动了传统营 合金融服务。随着私募机构数量和发行 规模的飞速增长,PB业务无疑是证券公 司业务的一片新蓝海。 综上所述,财富管理业务的快速发展对 证券行业有着积极影响,财富管理业务 盈利模式的改革创新已是业内共识,但 如何实现这一共同目标,仍需进一步摸 索 和 探 究 。华 泰 证 券 股 份 有 限 公 司 和 光 大证券股份有限公司分别在2016年和 2017年进行的海外收购是证券公司财富 管理转型的重要战略举措的体现1。总体 来看,证券公司需搭建以财富管理为中 心,其他各业务充分支撑的一体化服务 体系,并扩充拥有丰富金融从业经验和 良好人际交往能力的复合型人才,结合 国外成熟的财富管理体系经验,向全面 财富管理业务转型。 1. 2016年华泰证券股份有限公司成功并购美国智能投顾财富管理公司AssetMark;2017年光大证券股份有限公司持股70%的新鸿基金融公司收购英国机构经纪公司及研究公 司North Square Blue Oak Ltd. © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
32. 29 Mainland China Securities Survey 2017 3.2 Revised asset management regulations The increasing focus on asset management meant this business segment has grown swiftly both in scale and product innovation. Total AUM at the end of 2016 (including banking and insurance) amounted to RMB 116 trillion, of which RMB 17.32 trillion2 were managed by securities companies - a year-on-year increase of 46 percent. Asset-backed securities (ABS) was the fastest growing product segment. There were 2,047 outstanding asset-backed securities totalling RMB 431.5 billion at the end of 2016, which was a 141 percent surge over 2015. Guided by state policies and driven by the market, the growth in volume aside, there has also been plenty of product innovation in the ABS sector. In February 2017, the first securitisation of a public-private partnership (PPP) project worth RMB 840 million3 was issued. This landmark transaction has helped open up the industry to plenty of business opportunities in the form of more national PPP projects. The regulators have released a number of policies in recent years to regulate the asset management sector in order to lower product risk and reduce arbitrage opportunities involved with companies acting as a channel for direct funding. In March 2016, new regulation was released to drive securities companies to better manage their risk indicators, imposing further restrictions on their funding channel operations. This was followed by the introduction of the eight new bottom lines4 regulations, a clear indication of the authorities’ intention to reduce the scale of funding channel operations, lower the leverage of the industry, and remove the misconception that securities companies are obliged to cover the losses of investors in the event of a product default. Asset managers were then identified as taxpayers of asset management products by guidelines from the Ministry of Finance in December 2016 and January 2017, which present many challenges to the sector. More is yet to come as the China Banking Regulatory Commission (CBRC), the CSRC and the China Insurance Regulatory Commission (CIRC), under the lead of the People’s Bank of China (PBOC), are formulating unified asset management standards to curb regulatory arbitrage activities. The new standards will impose higher requirements on asset management business. A CSRC spokesperson mentioned in May 2017 that securities and fund institutions involved in asset management should focus on their core business as asset managers instead of funding channel operations. While the market share of fund channel operations based on AUM has gone down to 66.4 percent in 2016 from 70 percent5 in 2015, there is still plenty of room for improvement before the industry is able to focus on its core business segments such as value discovery, asset allocation and risk management. The asset management industry has developed and will continue to grow alongside the increasingly affluent Chinese population. With total AUM reaching RMB 116 trillion as at the end of 2016, the industry’s rapid growth and expanding product mix has naturally led to an increase in regulatory supervision. This has highlighted the importance of having unified regulations as it can help promote the development of the sector and create greater value for investors. 2. Source: AMAC 3. Source: SAC 4. Tentative Provisions for Management of Operation of Private Asset Management Business of Securities and Futures Companies (CSRC Circular [2016] No. 13) 5. Source: AMAC © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
33. 二零一七年中国证券业调查报告 30 3.2 资管行业监管升级,促进行业 健康发展 大资管时代背景下,资产管理业务在产品 规模及产品创新程度上均发展迅速,截至 2016年末,资管行业(含银行及保险)规 模合计人民币116万亿元。其中,证券公 司资产管理业务规模达到人民币17.32万 亿元2,较2015年末的规模增长约46%。 从产品类型来看,2016年资产支持证券 业务增速最快。年末存续产品2,047只,资 产规模人民币4,315亿元,较2015年增加 人民币2,522亿元,增幅达141%。在政策 导向及市场驱动下,券商资产证券化产品 类型逐渐丰富,2017年2月首单政府与社 会资本合作项目(“PPP项目“)资产证券 化产品成功发行,其发行总规模为人民币 8.4亿元3,资产证券化的融资模式与PPP 项目的结合给予了国家重点推进项目新 的活力,带给资产证券化发展更广阔的空 间。 在监管方面,监管机构近年来陆续出台多 项政策规定,以规范资产管理行业运作, 降低产品风险,收紧通道业务的监管套利 空间。2016年3月,证券公司风险指标管 理新规出台对一系列指标进行了规定,对 通道业务进一步进行限制和压缩。2016 年7月,新八条底线4正式实施,明确了当 前资管行业去通道化、去杠杆和去刚性 兑付的政策方向。2016年12月和2017年 1月,财政部印发相关文件明确了资产管 理人是资产管理产品的纳税人,也给资 产管理人带来一系列挑战。2017年3月, 一行三会均表示,正在由中国人民银行牵 头,会同三会制定统一的资产管理产品标 准规制,打击监管套利。这对证券公司资 管提出了的更高的要求和挑战。2017年5 月,证监会发言人首次提到“证券基金经 营机构从事资管业务应坚持资管业务本 源,谨慎勤勉履行管理人职责,不得从事 让渡管理责任的所谓‘通道业务’”。在政 策导向下,目前通道业务规模占比虽呈下 降趋势,由2015年的70%5下降至2016年 的66.4%,但“去通道化”仍任重道远,转 型仍迫在眉睫。资管行业发展须大力发展 和推进主动管理类业务,回归资产管理行 业价值挖掘、资产配置、风险管理的本源。 随着居民财富高速增长,资管行业的规模 高速增长,产品类别多元化发展,带动了 行业监管升级。截止2016年底,大资管行 业规模已经达到百万亿,随着行业政策上 的统一,各类资产管理机构将在同样的规 则下运营,更好的为投资者创造价值,促 进大资管行业健康发展。 2. 数据来源:中国证券投资基金业协会 3. 数据来源:中国证券业协会 4《. 证券期货经营机构私募资产管理业务运作管理暂行规定》证监会公告[2016]13号 5. 数据来源:中国证券投资基金业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
34. 31 Mainland China Securities Survey 2017 3.3 Development of proprietary trading The trigger of the circuit breaker mechanism caused the stock market to tumble in early 2016. The CSI 300 Index, for example, reached an intra-year low of 2,821.21 at the end of February6. While it recovered to end 2016 at 3,310.08, it was still an 11 percent drop compared to the beginning of the year. Moreover, volatile market conditions, both domestically and globally, also impacted the bond market with the ChinaBond New Composite Index (net price) slipping to an intra-year low of 99.0948 on 20 December 20167. The relatively softer markets for both equities and bonds in 2016 had put the proprietary trading business of securities companies under pressure. Total income from securities investment (including changes in fair value) was RMB 72.5 billion8, which translated to over 50 percent decrease over 2015 from RMB 151.5 billion. There are a number of opportunities and challenges for securities companies when it comes to proprietary trading. For example, there has been a series of defaults following the end of the misconception that bond payments would always be paid. In 2016, 28 issuers defaulted on 58 publiclyoffered bonds with total outstanding of RMB 40.2 billion9, according to Wind Information. The number and total size of the defaults were both much higher than 2015, translating to year-on-year increases of 159 percent and 219 percent, respectively. On the other hand, the authorities’ recent efforts to deleverage the market following the high levels of volatility experienced in 2015 meant CFFEX has started relaxing some of its tightening measures on stock index futures. In February 2017, CFFEX effectively lifted its restrictions on index futures trading via the adjustment of commission fees and margin requirements. In addition, the CSRC indicated in May 2017 that the listing of stock index options would be accelerated to enhance the risk management function of the derivatives market. The development of FICC is key for securities companies’ proprietary business. It is important for companies to build their core businesses with recent developments in mind such as RMB internationalisation and credit market expansion. However, many domestic securities companies have yet to establish a strong presence in the entire FICC value chain and focus mostly on fixed income trading. Domestic securities companies should learn from the experience of international banks, focus more on their clients’ needs, build experienced commodity and currency trading teams and strengthen their cross-business risk management. In addition, three new financial instrument accounting standards, including Accounting Standards for Business Enterprises No. 22 – Recognition and Measurement of Financial Instruments, were issued on 31 March 2017. The new standards require securities companies to enhance their data collection and risk management abilities although the extra effort and work involved with compliance could impact the profits’ volatility of securities companies. Dual-listed companies, whose shares are trading both domestically and on an overseas exchange, are required to adopt the new accounting standards one year earlier starting from 1 January 2018. As a result, securities companies with both A-shares and H-shares are under tighter time pressure to undertake the necessary preparation. 6. Source:Wind information 7. Source: Chinabond.com.cn 8. Source: AMAC 9. Source: Wind Information © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
35. 二零一七年中国证券业调查报告 32 3.3 自营业绩受市场影响,探索 布局迎接挑战 2016年初,受熔断影响,股票市场大幅下 跌,沪深300指数于2月末降至年内最低 2,821.216点,直至2016年末以3,310.08点 收盘,仍较年初指数下跌了11%。2016年 末,受国内外复杂经济形势,债券市场亦 大幅下跌,中债新综合指数(净价)于12 月20日到达年内低点99.09487。归于股债 两市整体弱势影响,2016年度证券公司 自营承压,仅实现证券投资收益(含公允 价值变动)人民币725.088亿元,相较2015 年度的人民币1,515.43亿元,降幅超过 50%。  2016年以来,证券公司自营业务风险和 机遇并存。一方面,随着“刚性兑付”的预 期被打破,债券违约事件集中出现,据万 得资讯,2016年,公募债市场共有28个发 行主体出现实质性违约,涉及57只债券, 债务总额达人民币402亿元9,涉及的债券 数量和债务金额较2015年分别大幅上升 159%和219%;另一方面。在经历了股市 异常波动后的清理整顿和压缩杠杆之后, 中国金融期货交易所于2017年2月发布 了对被施以严格管理措施的股指期货的 松绑消息,通过调整股指期货交易手续费 与保证金标准,以期恢复其对冲风险的功 能,此外,证监会于2017年5月末表示将 推进股指期权的上市工作,这将丰富衍生 品市场的风险管理功能。 就自营业务未来的发展布局而言,随着人 民币步入国际化、信用市场发展逐步健 全、混业经营限制逐步放宽,发展覆盖固 定收益、外汇和大宗商品的FICC业务成 为各家证券公司整合自营和公司其他业 务,打造具有特色的核心竞争力的切入 点。但相比国际投行完善的FICC产业链, 国内证券公司业务模式还主要集中在固 定收益交易方面,需借鉴国外投行的发展 经验,以客户需求为导向,搭建具丰富商 品和外汇交易经验的团队,加强对跨业务 的风险管理,对FICC业务的发展进行统 筹安排。 此外,中国版新金融工具准则,即《企业会 计准则第22号——金融工具确认和计量》 等三项金融工具会计准则也于2017年3 月31日落地,对于在境内外同时上市的 企业,要求自2018年1月1日起施行新金 融工具相关会计准则,新准则一方面会增 加证券公司盈利的波动性,一方面也要求 券商进一步规范业务模式和加强风险管 理能力。对此,部分A+H股上市券商已抓 紧制订工作安排以妥善应对。 6. 数据来源:万得资讯 7.数据来源:中央国债登记结算有限责任公司 8.数据来源:中国证券投资基金业协会 9. 数据来源:万得资讯 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
36. 33 Mainland China Securities Survey 2017 3.4 Investment banking reforms A total of 227 companies completed A-share IPOs in 2016, breaking the previous record set in 2012. 2016 was a tale of two halves as the number of IPOs only started to surge in the second half, in particular after July. From August until the end of the year, a total of 153 companies10 went public, accounting for 67 percent of the yearly total. The accelerated pace of IPOs has paved the way for the proposed reforms towards an IPO registration system. A-share fundraising exceeded RMB 1,892.6 billion in 2016, which was a 127 percent leaped compared to 2015. Follow-on offerings accounted for 89.71 percent of the total with the remaining belonging to IPOs. The former’s dominance, most of which were conducted for refinancing purposes, prompted the CSRC to revise the implementation rules11 for share private placements on 15 February 2017. This was followed by new provisions12 on 17 February 2017 to regulate the quantity and frequency of share private placements as well as the use of proceeds. M&A activity, on the other hand, was less fervent in 2016 with 298 settled applications compared to 38113 applications in 2015. This was the result of tightened backdoor listing regulations with the CSRC issuing the Measures on Management of Significant Asset Restructuring of Listed Companies on 8 September 2016. The measures were aimed to improve information disclosure and protect investor interests through the regulation of backdoor listings and clamping down the speculation of shell companies. Higher requirements have since been imposed on the business and risk management capabilities of securities companies conducting M&A and restructuring activities. On 24 April 2017, the draft amendment to the Securities Laws identifying the NEEQ as one of the multi-layered capital markets was submitted to the Standing Committee of the National People’s Congress for second reading. As at 30 December 2016, the aggregate market value of the companies listed on the NEEQ was RMB 4,055.8 billion. The sheer size of the NEEQ meant it has already firmly established itself within the domestic capital markets. The NEEQ issued a circular on 27 May 2016 to implement a multi-layered management system of listed companies aimed at improving the lack of secondary market liquidity and quality of listed companies. Since 27 June 2016, the NEEQ has been divided into the innovative or basic segments, which is expected to help investors lower the cost of information collection, in order to improve the liquidity of the NEEQ. There were 952 companies in the innovative segment as at 30 December 2016, or less than 10 percent of the NEEQ. Efforts are also being made to strengthen the regulatory regime of the securities market. The CSRC, for example, has been handing out more as well as tougher punishments to securities companies that have failed to fulfill their sponsoring and underwriting obligations, forcing them to reinforce their internal controls and risk management. The greater focus on risk management and regulatory oversight played a key part in the development of A-share fundraising, M&As and NEEQ last year. The key themes of 2017, on the other hand, revolves around promoting the investment banking capabilities of securities companies and improving the quality of listed companies. 10. Source: CSRC 11. The Implementation Rules on Private Share Offering by Listed Companies (CSRC Circular [2017] No. 5) 12. The Issuance Regulation Q&A – Regulatory Requirements Concerning Guiding and Regulating Financing Activities of Listed Companies 13. Source: Wind Information © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
37. 二零一七年中国证券业调查报告 34 3.4 投行业务改革稳步开展 2016年,共有227家企业完成A股IPO,创 下2012年来最高纪录。经历2015年IPO 暂停与重启,及2016年上半年对A股市场 的重整和修复,2016年8月以后,A股市场 IPO数量激增,2016年8月至12月,共有 153家10企业完成IPO上市,占到全年IPO 数量的67%,IPO加速发行也为注册制改 革 做 好 了 铺 垫 。从 融 资 金 额 来 看,2 0 1 6 年A股市场首发及再融资金额合计超过 人民币18,926亿元,较2015年的人民币 8,345亿元增加了127%;而从融资结构分 析,2016年,定向增发募集资金占到A股 股票市场总募集资金的89.71%,IPO融资 占比不足十分之一。面对定向增发融资业 务市场规模的扩大,2017年2月15日,证 监会对发行股票实施细则11的部分条文 进行了修改,并于2017年2月17日发布了 新规12,从发行数量、融资间隔时间及融 资用途方面规范上市公司定向增发融资 行为。 相较于2015年井喷式发展的并购重组市 场,2016年借壳上市监管要求全面趋严, 并购重组市场降温。据万得资讯,2015年 证监会审结了38113家企业的并购重组申 请,而2016年这一数据则降至了298家, 下降比例近22%。2016年9月8日,中国证 监会发布关于修改《上市公司重大资产重 组管理办法》的决定,此次修订完善了配 套监管措施,在加强信息披露、保护投资 者权益等方面做出修改,重点是进一步规 范借壳上市,抑制投机“炒壳”。这对证券 公司开展并购重组业务提出了更高的业 务能力和风险管控上的要求,旨在提高上 市公司质量,引导市场规范发展。 2017年4月24日,全国人大常委对证券法 修改草案进行了二审,明确新三板为多层 次资本市场中一层。截至2016年12月30 日,新三板挂牌企业总市值人民币40,558 亿元,在中国资本市场中的地位不容小 觑。而对于三板市场中存在的如企业质量 良莠不齐、流动性不足等问题,全国中小 企业股份转让系统有限责任公司于2016 年5月27日发布公告,并自2016年6月27 日起正式对挂牌公司实施分层管理,将符 合不同标准的挂牌公司分别纳入创新层 或基础层,以降低投资人信息收集成本, 带动新三板市场的流动性。截至2016年 12月30日,创新层企业952家,占挂牌企 业比例不足10%。 证券市场在加强制度建设、深化体制改革 的同时也不断强化监管,2016年证监会 对多家券商因保荐承销业务中未勤勉尽 责等方面进行处罚,倒逼券商加强内部控 制及风险管理。 2016年,无论是IPO、再融资、并购重组还 是新三板市场,防范风险、加强监管的主 题贯穿全年;2017年,在完善资本市场体 系,推动券商投行业务规范稳健发展以及 提高上市公司质量方面均任重而道远。 10. 数据来源:中国证监会 11《. 上市公司非公开发行股票实施细则》中国证券监督管理委员会公告〔2017〕5号 12.《发行监管问答-关于引导规范上市公司融资行为的监管要求》 13. 数据来源:万得资讯 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
38. 35 Mainland China Securities Survey 2017 3.5 Mutual funds: Opportunities and chal enges As at March 31 2017, the number of mutual funds in China totalled 4,20814 with AUM of RMB 9.3 trillion, which translate to year-onyear increases of 45 percent and 20 percent, respectively. Many participants are entering this market, including securities companies’ asset management subsidiaries, insurers and private equity firms. Since licence restrictions were lifted in 2013, twelve15 securities companies or their subsidiaries and two asset management subsidiaries of insurance firms have (as at March 31 2017) been granted licenses for mutual fund management, accounting to 11 percent of the 123 qualified institutions. Among them, 9 have already commenced operations, with a total of 56 mutual funds established for a combined AUM of RMB 90 billion. The emergence of securities companies and insurers meant diversified financial groups are becoming a trend in the mutual fund space. This increasingly competitive environment is driving companies to focus more on product innovation and diversification. The emergence of outsourced funds and fund of funds (FOFs), for example, has led to an industry reshuffle. Outsourced funds has grown exponentially in 2016. As at March 31 2017, there were 40216 outsourced funds (9.55 percent of the total number of mutual funds) worth a combined AUM of RMB 1.1 trillion (11.83 percent of total AUM), according to Wind Information. Several small and medium-sized fund management companies that focus on developing outsourced funds have seen rapid increases in their AUMs and their growth is starting to change the dynamics of the industry. The release of the Guidance on the operation of Mutal Securities Investment Funds No. 217 on 11 September 2016 has also helped to expand the portfolio of the mutual fund industry to include FOFs. The multi-manager nature of FOFs allows it achieve better risk diversification and asset allocation as investments are spread across a variety of fund categories. FOFs presents the opportunity for small fund management companies to overtake their larger peers, provided they have the required capabilities to manage the product. Better performing funds are likely to have access to more funds, which would intensify market competition. While the mutual fund industry might be booming, it is important to note that default risks surrounding the domestic securities market are increasing. China’s domestic bond market recorded 5718 substantial bond defaults for a combined RMB 40.2 billion in 2016, which involved 28 issuers. Many mutual funds and segregated accounts had invested in those bonds. To mitigate such risks, it is important for fund management companies to strengthen credit risk research, improve risk management capabilities, maintain a diversified portfolio, and reduce investments in high-risk industries. 14. Source: AMAC 15. Source: AMAC 16. Source: Wind Information 17. Guidance on the Operation of Mutual Securities Investment Funds No. 2 – Guidance on Fund of Fund, CSRC Announcement〔2016〕No. 20 18. Source: Wind Information © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
39. 二零一七年中国证券业调查报告 36 3.5 公募行业繁荣发展,机遇与挑 战并存 截至2017年3月31日,我国存量公募基金 数量共计4,208只14,规模已达人民币9.3 万亿元,数量比2016年一季度末的2,899 只增长了45%,规模增长了20%,可谓呈 现 爆 发 式 的 增 长 。在 这 蓬 勃 向 上 的 市 场 中,金融各子行业也在交叉渗透。自2013 年公募牌照放开以来,包括券商资管子公 司、保险、私募等众多机构相继进军公募 基金行业。截至2017年3月31日已有1215 家证券公司或其子公司以及2家保险资 管公司取得了公募基金管理资格,占123 家具有公募基金管理资质机构的11%。其 中9家证券公司或其子公司开展了公募 基金业务,共成立了56只公募基金,规模 已逾人民币900亿元,行业开放进一步加 剧了公募基金行业的竞争。 面 对 公 募 行 业 的 竞 争 格 局 ,产 品 创 新 愈 趋 于 多 元 化 ,委 外 定 制 基 金 的 异 军 突 起 、F O F 基 金 的 开 闸 将 引 发 新 一 轮 的 行 业 洗 牌 。2 0 1 6 年,委 外 定 制 基 金 开 始 大 幅 增 长 。据 万 得 资 讯 ,截 至 2 0 1 7 年 3 月 3 1 日,已 成 立 委 外 定 制 基 金 数 量 4 0 2 只 1(6 占 公 募 基 金 总 数 的 9 . 5 5 %),总 规 模 人 民 币 1 . 1 万 亿 元 (占总规模的11.83%)。其中部分中小基 金公司依靠委外资金管理规模急剧上升。 基金中的基金(“FOF”)随着2016年9月 策,范围涵盖分级基金、保本基金、委外定 11日公募基金2号指引1(7 以下简称“指 制基金及流动性管理等。于2016年11月 引”)的正式发布为公募基金行业引入新 25日,沪深两市交易所颁布了《分级基金 的产品类型,FOF基金的双重分散风险功 业务管理指引》,规范了分级基金的相关 能,及多样化的资产配置等特点,使其在 业务操作,抬高了分级基金的投资者准入 国内有较大的发展空间。在此环境下,很 门槛。于2017年1月24日,证监会颁布了 多小基金公司如果具备优秀的FOF管理 《关于避险策略基金的指导意见》,使保 理念及相应能力,弯道超车并非难事;除 本基金退出历史舞台,并在保障机制、投 此之外,出于对投资收益的追求,业绩优 资策略、基金管理人的风控管理、风险监 秀的基金更有可能进一步获得资金青睐, 测等方面提出了新的要求。于2017年3月 由此引发马太效应必将使市场竞争进一 17日,监管机构对单个投资者投资比例 步加剧。 超过50%的委外定制基金提出了更严格 但是,公募基金规模增长的市场背后风险 也不容小觑。据万得资讯,2016年中国债 券市场共有57只18债券实质性违约,涉及 28家发债主体,违约金额达人民币402亿 元。在过去的一年多时间里,已经有部分 的监管要求。于2017年3月31日,证监会 起草了公募基金流动性风险管理规定19, 以加强公募基金流动性风险管控为核心, 对现有开放式基金的监管规则进行了较 为全面的梳理修订。 基金公司的公募基金及专户产品发生持 仓债券“踩雷”情形。加强信用研究,提高 鉴别信用风险的能力,做好风险控制,分 散化投资,降低高危行业债券的配置比 例,已经成为基金公司风险控制的关键。 自 2 0 1 5 年 股 市 异 常 波 动 以 来,加 强 监 管 、健 康 发 展 是 基 金 业 目 前 的 核 心 主 题。2016年,各监管机构频发多项监管政 14. 数据来源:中国证券投资基金业协会 15. 数据来源:中国证券投资基金业协会 16. 数据来源:万得资讯 17《. 公开募集证券投资基金运作指引第2号——基金中基金指引》中国证券监督管理委员会公告〔2016〕20号 18. 数据来源:万得资讯 19《. 公开募集开放式证券投资基金流动性风险管理规定(征求意见稿)》 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
40. 37 Mainland China Securities Survey 2017 Stock market volatility in 2015 meant strengthening the supervisory and regulatory regime was the core theme of the fund industry last year. Consequently, a number of regulatory policies were released, covering structured funds, principal guaranteed funds, outsourced funds and liquidity management. On November 25 2016, the SSE and the SZSE jointly issued a guidance on managing the structured fund industry, which standardised structured fund operations and raised the admittance threshold for investing in structured funds. This was then followed by the CSRC’s Guidance on Risk Mitigation Strategy Funds on 24 January 2017, which introduced new requirements and restrictions on a fund manager’s investment strategy, risk controls and monitoring mechanism, as well as the removal of principal guaranteed funds. In addition, on 17 March 2017, more rigorous regulatory requirements were imposed on outsourced funds if a single investor accounts for more than 50 percent of the total fund capital. The CSRC also drafted the regulations on liquidity risk management in mutual funds on 31 March 201719, which emphasise on the management and control of liquidity risks in mutual funds. 19. Provisions on the Liquidity Risk Management of Mutual Securities Investment Funds (Exposure Draft) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
41. 二零一七年中国证券业调查报告 38
42. 39 Mainland China Securities Survey 2017 3.6 Commodities-driven momentum Similar to the other markets, stock index futures also had a relatively weaker 2016 with declines in both transaction volume and turnover. Within this segment, however, commodities managed to buck the trend and recorded its bestperforming year since 2010 as a result of ongoing supply-side reforms and measures to cut over-capacity. The popularity of commodities futures helped provide much-needed relief to future companies that were hit by the overall decline in stock index futures. The total number of transactions and turnover of commodities futures increased by 884 million20 lots and RMB 41.12 trillion, or increases of 27 percent and 30 percent, respectively. The popularity of commodities futures helped provide much-needed relief to future companies that were hit by the overall decline in stock index futures. The momentum behind commodities is strong with the launch of the country’s first batch of domestic commodity index funds in April 2017. All 10 were private funds issued by Jinrui Futures Co., Ltd. In addition, 32 commodity funds are pending CSRC approval as at the end of June 2017. The debut of commodity index private funds as well as the list of commodity fund applications reflect the increasing popularity of the industry as well as the high expectations on commodities-related products. Many futures companies are taking the opportunity to develop commodities futures within their traditional brokerage business although they are also relying on other segments to rake in profit. This includes asset management and risk management as they are able to rely on their derivatives expertise to achieve portfolio and product diversification. According to the statistics published by the AMAC, as at 31 December 2016, the AUM of the asset management segment in the futures industry was about RMB 279.2 billion21- a 167 percent jump over 2015. However, the asset management business was somewhat affected by the provisional regulations on private equity asset management22 issued in July 2016 although the rules do help in providing more guidance to the industry. Futures companies should rely on their their own strength in derivatives to diversify their asset portfolios and improve product diversification in order to achieve robust growth. Futures companies are also expected to actively expand their financing channels as they seek to boost innovation and supplement net capital. Orient Futures, for example, became the first futures company to issue subordinated debt in June 2015. This has helped open a new financing stream for the industry with a total of 1623 futures companies having issued a combined RMB 2.299 billion of subordinated debt in 2016. Consolidation is likely to continue in the form of M&As and restructurings, growing away from the existing environment, which consists mostly of smaller players. Such consolidation efforts are a positive for the rating of futures and is likely to be supported by favourable government policies. The futures market is an important aspect of China’s financial markets as reflected by its role in price discovery and supply-side reforms. Their ability to innovate together with support from the regulators are key to the long-term development of the industry. There are issues to consider, however, such as the need to strengthen their capital base and the lack of researchers. The latter is particularly important due to an increasingly demanding clientele whose needs are also growing. 20. Source: Statistical data from the Shanghai, Dalian and Zhengzhou Commodity Exchanges 21. Source: AMAC 22. Provisional Regulations on the Operation and Management of Private Equity Asset Management Business of Securities and Fund Management Companies, CSRC Announcement [2016] No. 13 23. Source: China Futures Association © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
43. 二零一七年中国证券业调查报告 40 3.6 商品期货大放异彩,期货行 业迎来新发展 回顾2016年,股指期货持续低迷,2016年 度股指期货成交总量和成交金额大幅下 降。于此同时,受惠于“供给侧改革”和去 产能的红利,大宗商品却创下了2010年 以来最佳年度表现,为在逆境中求生存的 期货公司派发了一笔金额可观的“大红 包”。2016年度大宗商品成交总量和成交 金额较2015年度分别增长8.8420亿手和 人民币41.12万亿元,增幅分别为27%和 30%。2017年4月,金瑞期货的10只商品 指数私募基金通过了中国证券投资基金 业协会备案,国内商品指数私募基金正式 面世;截至2017年6月底,已经有32只商 品基金获证监会受理待批;市场推出参与 大宗商品的不同形式的投资品种,可见市 场对商品期货投资的期待。 除了抓住传统经纪业务中商品期货的发 展契机,期货公司继续将创新业务作为实 现盈利的重要突破口。目前,期货公司创 新业务主要分为资产管理和风险管理两 大块。据中国证券投资基金业协会公布的 数据显示,截至2016年12月31日,期货行 业资产管理业务规模约为人民币2,792亿 元21,较2015年末增长人民币1,747亿元, 增幅达167%。尽管2016年7月新出台的 私募资产管理暂行规定22对期货公司资 管业务有一定影响,但是从长远发展来 看,其对期货资管起到良性引导和规范作 用。期货公司需要发挥自身在衍生品领域 的优势,在丰富资产配置、完善产品多元 化方面寻求稳健的生存之道。 为助推创新业务和补充净资本需要,期货 公司也在积极拓宽融资渠道。继2015年6 月东证期货开创了期货公司发行次级债 的先河,2016年共有1623家期货公司通过 次级债融资,合计融得人民币22.99亿元。 兼并重组已经成为期货评级加分项中的 一项重要指标,政策支持和监管鼓励将继 续助推期货公司兼并重组的热潮。 期货市场的价格发现功能和“供给侧改 革”中发挥的积极作用在2016年得到了 淋漓尽致的体现,加之期货公司的自身创 新和监管鼓励,趋势上决定了期货行业的 长期利好。但期货公司亟待解决资本实力 薄弱和投研人才缺乏的问题,以满足客户 日益多元化的需求,实现转型升级和可持 续发展。 为改善期货公司“小、散、弱”的现状,市场 化兼并重组已然成为今后一个时期的必 然趋势。值得关注的是,期货公司之间的 20. 数据来源:上海、大连和郑州商品交易所统计数据 21. 数据来源:中国证券投资基金业协会 22.《证券期货经营机构私募资产管理业务运作管理暂行规定》证监会公告[2016]13号 23. 据来源:期货业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
44. 41 Mainland China Securities Survey 2017 04 Key industry topics: Innovation and new regulations 行业热点:创新稳步 推进,监管新规频出
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46. 43 Mainland China Securities Survey 2017 4.1 Securities companies: The path to digitalisation Chinese securities companies have made significant investments in terms of developing their online presence over the past few years, including mobile applications and big data intelligent investment advisors that cover account opening and transaction processing. That, however, is merely the first step in their foray into new age of digitalisation. Securities companies should possess forward-looking strategies that allows them to differentiate from their peers as well as adapt to changes in the customer base. The growing importance of the internet and the need to embrace digitalisation do not mean that the core values of the financial industry have changed. Traditional financial institutions need to maintain their professional competencies and strive to provide professional, customised, and integrated financial services. They should also explore ways to expand the roles they can play as investment and financing intermediaries and the kind of services they are able to provide to clients through providing transaction, custodian and settlement services. As securities companies become more internet-focused, the future of physical outlets has naturally been called into question. It is therefore imperative for companies to start developing a clear strategy towards their physical/online presence and make the necessary recalibrations. One possible scenario is for physical outlets to adopt internet technologies and be used as a platform that integrates a company’s various business lines together such as investment banking, asset management and brokerage. This combination of online and offline resources would provide clients with a new marketing experience as well as a comprehensive and consistent set of products and services. Making this transition, however, would require staff with a different set of skills, which would result in an increase in the number of internet specialists. The rise of the internet has given securities companies greater access to customer information. A large amount of customer information has been accumulated alongside transactional and other market data. Companies that strive to improve their competitiveness in this age of digitalisation should look to establish data mining models that would enable them to fully utilise the massive data they already possess to provide investors with insights. © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
47. 4.1 券商数字化发展 二零一七年中国证券业调查报告 44 券商与互联网的“联姻”在3-4年前被提 及,在过去的几年间,国内券商在互联网 领域都进行了大量的投入,从开户到交 易,从基于移动通讯的各类应用到基于大 数据的智能投顾发展,券商都发展得风生 水起。 上一个3年可以作为券商触网的第一阶 段时代,那么展望未来的券商触网时代, 券商需要更主动前瞻考虑未来自身的发 展定位,制定差异化市场竞争策略以及针 对客户群体变化制定主动策略。 在互联网时代,金融的本质没有发生变 化,金融服务的核心价值–专业能力仍然 是传统金融机构应对互联网金融竞争的 重要优势。券商要强调专业化、定制化、组 合性的金融服务能力,不断提升服务水 平,打造一站式、综合化的服务能力,应该 从服务的体验和内容、广度和深度上,充 分发挥投资银行作为投资中介、融资中 介、交易、托管和支付结算的本质属性和 业务潜能。 同时,券商营业部转型一直老生常谈,然 而市场却鲜见令人印象深刻的成功案例。 随着业务互联网化的深入,对营业部传统 经纪业务模式势必造成较大冲击,券商营 业部的业务整体架构和业务模式需要进 行调整。如何依托互联网的技术,打通券 商投行、资管以及经纪等各个业务条线, 实现线上和线下资源的结合和循环,将此 前分离的业务架构变成循环式的主动推 送,将营业部转变成客户综合营销及客户 体验的服务平台。互联网时代下的营业部 转型对人员的技能有新的要求,其中互联 网业务技术人员的比例就会大大提升。 此外,随着各类互联网应用的推出,券商 获取客户信息的渠道和触点变多,因此会 有大量的客户相关信息的数据积累,加之 交易数据以及市场数据,券商坐拥大量非 常有价值的基础数据。如何在海量的数据 中,构建合理的数据模型,分析得出带有 预见性的,针对各个投资者需求的市场投 资观点是券商必须具备的差异化竞争能 力。 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
48. 45 Mainland China Securities Survey 2017 4.2 Implications of the new accounting standards for financial instruments The International Accounting Standards Board (IASB) launched an initiative to reform the accounting standards for financial instruments in 2008. The final version of IFRS 924 was issued in 2014 and will take effect on 1 January 2018. The Ministry of Finance of the People’s Republic of China has consequently updated three of its accounting standards for financial instruments: Accounting Standards for Business Enterprises No. 2225, No. 2326 and No. 2427. These changes include the reclassification of financial assets from four to three categories and requiring impairment allowance to be based on expected credit losses rather than incurred losses. In addition, the application of hedge accounting has been expanded to better reflect the risk management activities carried out by enterprises. The changes involve many different areas with plenty of implications for individual enterprises as well as the entire industry given the high level of investments in financial instruments. It is vital for securities and fund management companies to understand the changes brought about by the new accounting standards. All their investments in the affected financial instruments will be reclassified based on the new categorisation. This would naturally require a revision of their own accounting policies, applicability of the existing charts of accounts and disclosure items. In addition, securities and fund management companies may need to re-examine their investment strategies in order to adapt to the requirements of the new standards. This is relatively simple for fund management companies since their investments are mostly confined to liquid assets (minimum 50 percent) such as cash, bank deposits and treasury bonds. Moreover, they are not allowed to invest their capital in publicly traded shares, futures and other derivatives. Moreover, implementation of the new standards also has an impact on businesses in terms of their systems, processes, and staff. Companies may need to re-evaluate internal management reports and KPIs, while financial systems and management accounting systems might also require adjustments. Data collection processes may also need to be refined when it comes to categorising a company’s investments in the affected financial instruments. Companies also need to provide their staff with the necessary training in order to deepen their understanding of the new accounting standards. The implementation of the new standards will help securities and fund management companies strengthen the management of financial assets and liabilities, improve the quality of assets and their ability to guard against and resolve financial risks. In addition, it will also promote the integration of strategies, businesses, risk controls and accounting. Many securities and fund management companies are actively preparing for these new standards as the implementation date draws near. For those who are yet to be ready for the impending regulations, it is imperative for them to act now and come up with an implementation plan. 24. IFRS 9 Financial Instruments 25. China Accounting Standards for Business Enterprises 22 Recognition and Measurement of Financial Instruments 26. China Accounting Standards for Business Enterprises 23 Transfer of Financial Assets 27. China Accounting Standards for Business Enterprises 24 Hedge Accounting © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
49. 二零一七年中国证券业调查报告 46 4.2 新金融工具会计准则的影响 及应对 国际会计准则理事会于2008年启动了金 融工具准则改革项目,并于2014年发布 了IFRS 924 的最终版,将于2018年1月1日 生效。我国财政部借鉴IFRS 9相关内容, 于2017年3月31日修订并发布了22号准 则25、23号准则26和24号准则27三项金融 工具会计准则。 新金融工具会计准则的主要变化包括金 融资产的分类由现行“四分类”改为“三分 类”、金融资产减值会计由“已发生损失 法”改为“预期损失法”以及套期会计的适 用性更高以如实反映企业的风险管理活 动。此次准则的变化内容丰富,重点与难 点繁多,对单一企业乃至全行业的影响十 分深远,尤其是对于金融工具投资占比较 高的证券基金行业,更是一次不容小觑的 挑战。 直观来看,新金融工具会计准则的实施是 一个会计领域的问题,证券公司、基金公 司需要识别新准则与现行准则之间的差 异以及在新准则下新增的披露要求,对其 所有金融工具投资进行分层、梳理,审阅 或重新制定与金融工具相关的会计政策 并评估现行会计科目表和披露项目的适 用性。除此之外,由于新准则要求企业根 据“管理金融资产的业务模式”对金融工 具的分类进行判断,因此证券公司、基金 公司可能需要重新审视公司的投资策略 与业务发展方向,以使其能够与新准则的 要求契合。而对于基金行业,由于其自有 资金可以进行的金融资产投资限制较多, 包括持有现金、银行存款、国债等高流动 性资产的比例不得低于50%;不得投资于 上市交易的股票、期货及其他衍生品等, 因此,基金管理公司持有的金融资产种类 相对来说较为简单,实施新准则也将更为 顺畅。 深入去看,新金融工具会计准则的实施又 不仅仅是一个会计领域的问题,它对企 业的业务、系统、流程和人员都将产生影 响。就业务方面,管理层可能需要重新评 估内部管理报告和业务衡量指标;就系统 方面,企业的财务系统和管理会计系统等 都可能需要根据新准则的要求进行调整; 就流程方面,在对金融工具投资进行梳理 时,数据收集流程可能需要进一步细化; 而在人员方面,证券公司、基金公司应当 加深员工对于新金融工具会计准则的理 解,制定培训计划以最大限度减少其意外 感。 新金融工具会计准则的施行有利于证券 公司、基金公司加强金融资产和负债管 理,夯实资产质量,并有效防范和化解金 融风险,在另一方面也促进其战略、业务、 风控和会计的有机融合,全面提升企业管 理水平和效率。随着新准则渐行渐近,不 少证券公司、基金公司早已进入“备战状 态”,积极应对并及早梳理落实方案已然 是刻不容缓的任务。相信通过全行业的努 力,一定能平稳、顺利地跨越新准则迈上 一个新台阶。 24. 《国际财务报告准则第9号——金融工具》 25《. 企业会计准则第22号——金融工具确认和计量》 26《. 企业会计准则第23号——金融资产转移》 27《. 企业会计准则第24号——套期会计》 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
50. 47 Mainland China Securities Survey 2017 4.3 Growing importance of risk management Securities companies were subjected to greater regulatory pressure since 2016 especially when it came to risk controls. The SAC’s ratings of securities companies in August 2017 was an extension of the stricter regulatory environment in 2016. Securities companies rated Class A comprised of 41.2 percent of the market (2016: 37.8 percent, 2015: 67.4 percent), while Class B companies took up 49.5 percent (2016: 53.7 percent, 2015: 31.6 percent). Class C companies accounted for 9.3 percent of the market (2016: 8.5 percent, 2015: 1 percent). In addition to the downgrades, the regulators carried out large scale inspections in 2016. A main focus of the inspections was on IPO sponsorships – whether securities companies had conducted the required level of prudential checks, exercised enough due diligence, and if there were any false records, misleading statements or material omissions in their letters of recommendation. Several securities companies were subsequently subjected to regulatory actions on account of inadequate due diligence, incomplete working papers and ineffective implementation of the investor suitability system. Moreover, the NEEQ also imposed penalties on securities companies for non-compliance in NEEQ-related business activities. A total of 48 securities companies were subjected to 73 regulatory actions in 2016. The pressure from regulators will encourage securities companies to improve their internal risk control mechanisms, which will promote the sound development of the securities industry in the long term. With the Measures for the Administration of the Risk Control Indicators of Securities Companies coming into force in October 2016, a risk management system, which consists of risk coverage ratio, capital leverage ratio, liquidity coverage ratio and net stable fund ratio, has been fully incorporated into the business and management practices of securities companies. The inclusion of the subsidiaries of securities companies in this risk management system and the implementation of stress tests on securities and fund management companies reflect the regulators’ conviction to attain full risk management coverage. The SAC issued four selfregulatory rules28 in December 2016, which updated risk management requirements for securities companies. They include risk management, liquidity risk management, stress testing and dynamic monitoring of risk control indicators. These developments are a reflection of the regulators’ focus on elevating the level of risk management among securities companies. This was further reinforced when the Financial Stability and Development Committee was decided to be set up in July 2017 to strengthen the role of the PBOC in macro-prudential management and systemic risk aversion. The committee also seeks to strengthen the role of financial regulators by increasing their level of regulatory oversight and accountability. China is placing great emphasis on financial safety and the topic is viewed as a strategic development on a national level, showcasing its determination to mitigate financial risks. 28. Notice on Amending Four Self-Regulatory Rules Including the Standards for the Comprehensive Risk Management of Securities Companies, (ZHONG ZHENG XIE FA [2016] No. 251) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
51. 二零一七年中国证券业调查报告 48 4.3 监管不断加强,风控越发重要 自2016年以来,证券行业经历进入了“史 上最严监管期”。在“依法、全面、从严”的 监管政策大环境之下,证券公司面临了更 大的监管压力。 从2017年8月公布的证券公司评级结果 来看,2017年仍维持2016年严监管的评 级结果,评级整体维持向中间层级聚集 的格局。其中,A类证券公司占比为41.2% (2016:37.8%, 2015: 67.4%), B类证券 公司占比为49.5%(2016: 53.7%, 2015: 31.6%),C类证券公司占比为9.3%(2016: 8.5%,2015: 1.0%)。 2016年,除了评级上的大幅趋严以外,监 管层大规模开展业务检查工作。针对证券 公司IPO项目,重点关注如“审慎核查不 足,专业把关不够,出具的保荐书存在虚 假记载、误导性陈述或者重大遗漏“等问 题;针对部分证券公司债券业务的“尽职 调查不充分,工作底稿不完善,投资者适 当性制度未有效执行”等违法违规行为实 施监管处罚;全国中小企业股份转让系统 也针对证券公司新三板业务中的不合规 行为频频开具罚单。2016年共处罚48家 证券公司,处罚次数累计达73次。外部监 管的严厉施压将推动证券公司内部风险 控制机制完善,事中事后监管持续深化将 进一步推进证券公司等中介机构不断对 风控机制进行动态调整和完善,推动证券 行业长期健康稳定发展。 随着2016年10月新的《证券公司风险控 制指标管理办法》的实施,由风险覆盖率、 资本杠杆率、流动性覆盖率、净稳定资金 率四大核心指标构建的风险管理体系全 面进入证券公司经营管理实践。同时,将 子公司纳入全面风险管理体系,证券基金 经营机构常态化风险压力测试机制等措 施均体现了监管层推动证券行业继续向 “风险管理全覆盖”目标推进的意图。 此外2016年12月中国证券业协会发布的 四项自律规则28,从证券公司全面风险管 理、流动性风险管理、压力测试及风控指 标动态监控系统等四个方面,更新了对证 券公司风险管理的要求。以上种种均体现 了监管层对于证券公司风险管理的高度 重视。 2017年7月全国金融工作会议决定设立 国务院金融稳定发展委员会,强化人民银 行宏观审慎管理和系统性风险防范职责, 落实金融监管部门监管职责,并强化监管 问责。金融安全已升至国家战略,足见国 家对于金融安全的高度重视和防范金融 风险的决心。 在上述监管新思路的统领下,证券公司 应当做到:一、尽快建立健全全面风险管 理体系,将全部业务、所有子公司纳入风 控合规体系,通过完备有效的合规及风控 机制形成公司自我规范能力。二、完善异 常交易监督机制,优化客户信息的更新 机制,发挥证券公司资本市场“守门人” 作用,切实保障资本市场的有效运转。三、 重新审视现有激励制度并进行改革和创 新,以更好的鼓励长期健康发展而非仅短 期利益。如此才能适应不断更新的监管需 求,实现更好的发展。 28《. 关于修订<证券公司全面风险管理规范>等四项自律规则的通知》(中证协发〔2016〕251号) © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
52. 49 Mainland China Securities Survey 2017 Under the new guidance, securities companies shall: 1. Establish a enterprise risk management system, integrate all businesses and subsidiaries into the system, and improve its self-regulatory capabilities through a comprehensive and effective compliance and risk control mechanism; 2. Improve its mechanism for monitoring abnormal transactions, optimise the mechanism for updating customer information, and ensure the effective operation of the capital markets; 3. Review, reform and innovate the existing incentive system, reshaping it to be built for the long-term. Following the guidance would enable securities companies to better adapt to the changing regulatory requirements, which is essential to the long-term development of their businesses. © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
53. 二零一七年中国证券业调查报告 50 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
54. 51 Mainland China Securities Survey 2017 4.4 Taxation of asset management products One of the most significant changes in China’s taxation regime in recent years was replacing business tax with value-added tax (‘VAT reform’) on 1 May 2016. Following the VAT reform, the Ministry of Finance and the State Administration of Taxation issued a series of regulations to provide further clarifications. On 21 December 2016, the Ministry of Finance and the State Administration of Taxation issued CAI SHUI [2016] No. 14029 (‘Notice No. 140’). The 4th article of the notice stated that if any activities that are liable to VAT were to occur during the lifetime of an asset management product, the manager of the product will have to pay VAT. Subsequent provisions were then released via CAI SHUI [2017] No. 230 (‘Notice No. 2’) and were scheduled to come into effect on 1 July 2017. That changed, however, with the release of CAI SHUI [2017] No. 56 (Circular 56)31 on 30 June 2017. A new and simplified 3 percent VAT was introduced to all asset management products by the circular. Furthermore, the commencement date of the VAT on asset management products has been shifted to 1 January 2018. Still, the VAT reform effectively means that securities companies or their asset management subsidiaries will have to pay VAT on taxable income arising from asset management products. The sheer volume of asset management products meant the VAT reform is posing a serious challenge to the asset management business of securities companies. If part or all of the income from investments in asset management products are liable to VAT, this will have a direct impact on their products’ rate of return. This would then negatively impact the sales of the asset management products. In addition, paying VAT entails communicating with investors, including terms on tax shifting in offering documents, and deducting VAT while calculating returns. Securities companies will also need to upgrade their existing asset management systems. In addition, the extra compliance requirements, including invoicing, filing of tax returns and more complex accounting treatments would increase operational costs. To adapt to the reform, securities companies have a lot to work on concerning operations, legal, information system, finance and tax. 29. Notice on Clarification of VAT Policies for Finance, Real Estate Development, Education Support Services, Cai Shui [2016] No. 140 30. Supplementary Notice on Issues concerning VAT Policies for Asset Management Products, Cai Shui [2017] No. 2 31. Notice on Issues Relating to VAT on Asset Management Products , CAI SHUI [2017] No.56 © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
55. 二零一七年中国证券业调查报告 52 4.4 资管产品面临纳税考验 金 融 业 营 业 税 改 征 增 值 税(以 下 简 称 “ 营 改 增 ”)已 于 2 0 1 6 年 5 月 1 日 正 式 实 施 。作为一项具有开创性的税收改革, 财政部、国家税务总局陆续出台了一系 列规定以对政策加以明确。2016年12月 21日,财政部和国家税务总局颁布财税 [2016]140号2(9 以下简称“140号文”),其 中 第 4 条 规 定,资 管 产 品 运 营 过 程 中 发 生的增值税应税行为,以资管产品管理 人为增值税纳税人 。随后,财政部和国 家税务总局又发布财税[2017]2号3(0 以 下简称“2号文”),补充规定上述处理自 2017年7月1日实施。2017年6月30日, 财政部和国家税务总局颁布财税 [ 2 0 1 7 ] 5 6 号 3 1,明 确 了 资 管 产 品 暂 适 用 简 易 计 税 方 法,按 照 3 % 的 征 收 率 缴 纳 增 值 税,并 将 征 收 时 间 推 迟 至 2 0 1 8 年 1月1日。 根据140号文及相关政策解读,券商或券 商资管子公司作为资产管理人将需要就 资管产品所产生的应税收益缴纳增值税。 鉴于券商资管产品规模巨大,上述140号 文的规定对券商资管行业提出了重大挑 战:一方面,资管产品的部分或全部投资 收益如属于增值税应税收益,将直接影响 产品的收益率。新增的增值税成本将可能 对资管产品的销售产生影响。另一方面, 对于增值税税负涉及的包括与投资人进 行充分沟通、在产品发行文件中加入税负 转嫁的条款、在产品的投资收益中计算要 扣除的增值税税金等一系列工作,券商需 要 对 目 前 的 资 产 管 理 系 统 进 行 改 造 。此 外,一系列增值税合规要求,包括增值税 开票、纳税申报以及会计核算等,也将增 加券商的合规成本。 为迎接上述挑战,券商面临一系列的改造 工作,包括业务、法律、信息系统、产品财 务和税务等方面的梳理,以应对资管产品 征收增值税的处理。 29《. 关于明确金融、房地产开发、教育辅助服务等增值税政策的通知》财税[2016]140号 30《. 关于资管产品增值税政策有关问题的补充通知》财税[2017]2号 31《. 关于资管产品增值税有关问题的通知》财税 [2017] 56号 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
56. 53 Mainland China Securities Survey 2017 4.5 The overseas expansion of securities companies Chinese securities companies and fund management companies have long been encouraged to expand beyond their domestic business and improve their presence in the international arena. This overseas drive was first promulgated in the Opinions of the State Council on Further Promoting the Development of the Capital Markets issued on 9 May 2014. Following the completion of Guotai Junan Securities’ IPO on the Hong Kong Stock Exchange earlier this year, a total of 14 Chinese securities companies have successfully listed in Hong Kong as at the end of June 2017. Chinese securities companies are able to tap into Hong Kong’s deep capital markets by listing on the city’s exchange. The listing process in Hong Kong also tends to be faster than an A-share IPO, which can be an added bonus for companies with financing needs. Moreover, they would also be expanding their brand, services as well as gain access to new clients by listing overseas. This also ties in well with the overseas expansion plans of Chinese enterprises, which are increasingly looking for the services of agencies that are familiar with local laws and regulations. By listing overseas, Chinese securities companies would be able to access global capital markets, take advantage of the opportunities in emerging markets and globally, and allocate more resources outside of China. Listing overseas is just one of the approaches adopted by Chinese securities companies in their global expansion plans. Another commonly used approach is to directly acquire foreign financial institutions to build their offshore presence. Overseas acquisitions can provide them with quick access to domestic licenses, experience and client base although it is critical for companies to carry out extensive pre-acquisition due diligence, risk assessment, and post-acquisition business integration planning. While Chinese securities companies are actively expanding their international business, joint venture securities companies are doing the opposite and are making a push in the domestic market. Shengang Securities and Huajing Securities, for example, commenced operations in October and November 2016, respectively and were the first two joint venture securities companies established under Supplement X32 of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA X). They were joined by HSBC and Bank of East Asia on 19 June 2017, which both had their applications to establish joint venture securities companies in Qianhai approved by the CSRC. As at the end of August 2017, there were 18 applications for establishing securities companies in China, of which sino-foreign joint venture firms accounted for nearly half, according to CSRC statistics. More joint venture securities companies are expected to be established in the future especially with the number of free trade zones in China set to increase to eleven with the additions of Chongqing, Henan, Hubei, Liaoning, Shanxi, Sichuan and Zhejiang. The internationalisation of China’s capital market has not gone unnoticed. MSCI’s decision to include A-shares into its benchmark MSCI Emerging Markets Index on 21 June 2017 was a testament to the progress of the Chinese capital market’s internationalisation. Further two-way opening would drive the development of the industry even further as it could lead to the influx of more foreign professionals as well as competition, enhancing the overall service quality of the sector. 32. A Hong Kong-funded financial institution, when it submits to the CSRC an application for establishing a joint venture securities company, must meet, in addition to the conditions laid down by the CSRC on shareholding by foreign investors in Chinese securities companies, the following conditions: 1. the applicant must be a licensed financial institution in Hong Kong or a financial holding company incorporated and headquartered in Hong Kong; 2. If the majority shareholder or the ultimate beneficiary of the applicant is a financial holding company or a financial institution, it must also meet at least one of the following three criteria, i) the majority shareholder and ultimate beneficiary of the applicant must be incorporated and headquartered in Hong Kong; ii) the applicant has issued shares and been publicly listed in Hong Kong, with over 50% of the profit before tax coming from Hong Kong for the past three years, or with over 50% of the senior management being Hong Kong permanent residents; and iii) the majority shareholder or ultimate beneficiary of the applicant has issued shares and been publicly listed in Hong Kong, with over 50% of the listed company’s revenue or profit before tax for the past three years coming from the applicant. © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
57. 二零一七年中国证券业调查报告 54 4.5 证券公司国际化布局 2014年5月9日,《国务院关于进一步促进 收购境外成熟金融机构的模式也愈发常 国务院办公厅宣布在辽宁、浙江、河南、湖 资本市场健康发展的若干意见》明确提出 见。近年来,多家证券公司通过直接收购 北、重庆、四川、陕西等7省市设立自由贸 要鼓励境内证券期货经营机构实施“走出 大力加强海外业务,能帮助企业快速获得 易试验区,加上之前已设立的上海、广东、 去”战略,增强国际竞争力。截至2017年6 当地相关经营牌照、运作经验及客户基 天津、福建四个自由贸易试验区,中国自 月,随着国泰君安证券股份有限公司于香 础,但收购前的尽职调查、风险评估,以及 由贸易试验区的数量达到了11个,合资 港交易所的成功上市,共有14家境内证 收购后的业务整合、协同运作,仍是境内 证券公司有可能在以上更多的地区设立。 券公司在香港上市成功。 境内券商港股上市,一方面满足了融资的 券商国际收购所要认真研究及冷静思考 的问题。 同时,随着国外市场对于我国证券业的 认知与认可程度的不断上升,明晟公司 需求。券商的各项业务发展均需以资本金 境内券商 积极扩展国际化业务网络的 (Morgan Stanley Capital International, 为基础,境外尤其是香港便捷快速的上市 同 时,合 资 券 商 也 在 努 力 抢 占 境 内 市 简称MSCI)于2017年6月21日宣布中国A 途径为境内券商融资提供了更多的机会 场。2016年10月和11月,申港证券与华 股正式纳入MSCI新兴市场指数,这个是 及选择。另一方面,随着越来越多的中国 菁证券分别于上海正式开业,成为《关于 中国资本市场国际化进程的一大里程碑。 企业开始海外投资,其对熟悉当地法律、 建立更紧密经贸关系的安排》补充协议十 市场环境的中介机构的需求愈加旺盛,此 (CEPA10)协议32下首家及第二家成立的 时境内券商海外上市或开拓海外业务,对 合资券商。2017年6月19日,证监会核准 其提升品牌形象,深度服务已有客户和发 汇丰银行、东亚银行在深圳前海设立多牌 掘潜在客户意义重大。同时,积极发展新 照证券公司的申请,至此,在CEPA协议下 证券行业进一步的双向开放,一方面引入 更多的海外人才和管理经验,一方面也带 来更激烈的市场竞争,促进行业整体服务 能力的提高。 兴市场,通过全球业务资源配置,可以享 获批的合资券商已达四家。截至2017年8 受全球资本市场增长所带来的机遇。 月末,证监会公布的公开数据显示,共有 境内券商国际化业务网络的扩张不仅仅 体现在寻求海外上市,设立境外子公司、 18家证券公司已递交设立申请,其中近 一 半 为 中 外 合 资 券 商 。为 了 进 一 步 对 接 高标准国际经贸规则,2017年3月31日, 32. 港资金融机构向中国证监会申请设立合资证券公司,除符合中国证监会规定的外资参股证券公司有关股东条件以外,还应当符合以下条件: 一是申请人应当是在香港注册且总部设在香港的持牌金融机构或者金融控股公司; 二是如果申请人的控股股东、实际控制人为金融控股公司或金融机构,还应当符合以下三个条件之一: 1)申请人的控股股东、实际控制人在香港注册且总部设在香港; 2)申请人在香港公开发行股票并上市,且最近三年税前利润50%以上来自香港地区,或者50%以上高级管理人员为香港永久性居民; 3)申请人的控股股东、实际控制人已经在香港公开发行股票并上市,并且申请人的营业收入或税前利润占该上市公司的50%以上。 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
58. 55 Mainland China Securities Survey 2017 05 Conclusion 结语 © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
59. 二零一七年中国证券业调查报告 56 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
60. 57 Mainland China Securities Survey 2017 Compared to the ups and downs witnessed in 2015, the 2016 A-share market can seem rather uneventful. However, underneath the relatively calmer surface were a series of developments that could have wide-reaching impacts such as the increased scrutiny on backdoor listings, the launch of the Shenzhen-Hong Kong Stock Connect, reducing the scale of funding channel operations and the release of PPP project. Efforts to build a market-based capital markets were strengthened with the further opening up of the securities industry. And all of these were executed in conjunction with the regulators’ attempts to reinforce the legal regime of both its capital markets and the securities industry. While this focus on stability has had an adverse impact on the performance of the industry compared to 2015, it has prompted more securities companies to diversify their business operations in order to look for more growth opportunities, which is positive for their long-term development. The volatility experienced in 2015 meant ensuring market stability and guarding against financial risks were the regulators’ main focus last year. Many measures were introduced to achieve those aims such as restricting securities companies from acting as funding channel providers, reducing leverage and encouraging private equity funds to focus on their core business. In addition, efforts were made to strengthen the risk management of the financial sector, encourage investment in the real economy and improve the market’s efficiency in allocating resources. Aside from changes in income and net profits, a glimpse of where the industry is heading towards can also be found in the annual financial reports of securities companies. The overall commission rate of the industry had already fallen to 0.04 percent. The need to innovate and reinvent their business model is an issue many securities companies are facing at the moment. The lack of differentiation among market players was one of the key reasons why competition was fierce last year. While companies are trying to diversify away from their brokerage business, the business segment is still likely to remain a key component for the foreseeable future. Finding a solution has not been easy as the regulators are still focused on deleveraging the sector and standardising the industry. In addition, a slowing Chinese economy meant that the gains from external driving forces were fairly limited. As a result, many securities companies are instead refocusing efforts towards wealth management. Demand for wealth management products is on the rise due to the existing low rate environment, which increases investors’ need for higher returns. The regulatory regime surrounding asset management in China was strengthened by newly issued risk control indicators and the eight new ‘bottom lines’ last year. Moreover, the segment is also poised to benefit from continued efforts to improve the industry’s active management capabilities. The investment banking business, on the other hand, has also been boosted by an accelerated pace of A-share IPOs as well as bond issuance. In 2017, the key themes of the securities industry are the tightening of regulations and technology. In addition, securities companies need to focus on improving their core competitiveness in order to reduce their reliance on the brokerage business as the industry continues to be under pressure to transform and innovate. There are several ways for securities companies to strengthen their core competitiveness. They should provide value-added services such as wealth management and focus on institutional clients’ demand for investing and financing in a multilayered capital markets. This needs to be achieved in conjunction with improving their cooperation with other financial institutions. The industry should also expand their usage of artificial intelligence, big data, blockchain and cloud computing to improve operating efficiencies. Technology can also be employed to enhance risk management and internal controls, which are crucial for the long term development of businesses. In addition, securities companies should expand their talent pool and hire more cross-asset specialists and personnel. It is also increasingly important for companies to devise human resources policies that value staff members as partners and help maximise their potential. In the age of digitalisation, we believe the future of the securities industries belong to companies that are able to successfully integrate fintech with traditional financial services. Digitalisation has the potential to empower the entire business chain and those looking to gain a headstart now will stand to benefit the most in the future. © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
61. 二零一七年中国证券业调查报告 58 2 0 1 6 年 依 旧 是 不 平 凡 的 一 年,资 本 市 场 更 是 如 此 。相 对 于 2 0 1 5 年 的 跌 宕 起 伏,2016年A股市场指数表现颇为平静。 然而在资本市场上,借壳上市、深港通开 闸、资管去通道化、PPP概念等热点纷呈, 监管层在坚持市场化和法制化的同时,加 快国际化步伐。对于证券行业而言,市场 的回归常态使得整个行业的整体业绩较 2015年下降较大。证券行业亟待新的业 务增长点来抵御外部资本市场环境转变 的挑战。 从资本市场层面来看,在经历2015年股 市异常波动之后,2016年资本市场砥砺 前行,防范金融风险、保障金融安全成为 首要目标,同业业务加速去通道和去杠 杆、推进私募机构去伪存真、强化金融机 构风险管理等一系列政策都紧紧围绕风 险防范,旨在推进资金“脱虚向实”,调整 市场资金配置结构,提升市场资源配置效 率,保障资本市场稳定发展。 从券商层面来看,除了收入、净利润等发 生巨大变化外,几十份上市券商年报中还 显示出各家券商对未来的筹划与展望。当 行业整体佣金率下降至万分之四,曾经强 势的券商行业将必须在当前作出抉择。能 否抓住宝贵的改革窗口,改善收入结构实 现“多点开花”,是目前身处这个时代的券 商们亟需解决的问题。 回顾2016年,证券行业仍处于同质化严 重的激烈竞争中。对经纪业务收入依赖有 所下降但占比仍然较大,政策监管从严, 主调仍为“去杠杆”与加强现有业务规范 化管理,加之经济环境整体处于缓升,未 能实现外部强推动力。但是在财富管理业 务方面,当前的低息背景下,投资者的财 富管理需求不断增长,上半年券商风控 指标以及下半年新“八条底线”细则的出 台亦加强了对资管业务的监管,使得通道 业务规模减小,主动管理业务迅速提升, 利 好 主 动 管 理 业 务 能 力 较 强 的 券 商 。同 时,2016年IPO的加速亦使得投行业务收 入在券商总收入中的占比上升明显。 2017年,“加强监管”和“智能科技”成为 金融行业的主题词,证券行业也面临着转 型与发展的压力。券商如何摆脱对“靠天 吃饭”的经纪业务的依赖而加速转型,加 强核心竞争力是关键。在客户服务方面, 证券公司应该通过提供专业的财富管理、 聚焦多层次资本市场中机构投融资需求、 重视与其他金融机构的合作,通过高附加 值的服务对接客户需求;在信息技术方 面,证券公司应依托大数据、人工智能、云 计算、区块链等科技手段,打造“智能”券 商,塑造高效的经营和管理模式;在风险 管理方面,充分利用科技手段进一步加强 风险管理和内部控制是业务发展的坚强 后盾;在人才培养方面,传统的员工管理 要向跨界人才引进和培养、人才合作伙伴 以及释放人才潜能的方向转变。我们可以 预见到,面对数字化浪潮,在不久的将来, 证券行业属于将金融科技与传统金融综 合服务能力深度融合,以智能科技提升全 业务链体系和改造效率的先行领军者。 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织“( 毕马威国际”)相关 联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。毕马威的名称和标识均属于毕马威国际的商标或注册商标。
62. 59 Mainland China Securities Survey 2017 06 Appendix 附录
63. 二零一七年中国证券业调查报告 60
64. 61 Mainland China Securities Survey 2017 Appendix 1 Financial highlights: profit and loss 附录1 财务摘要:利润表 RMB million 人民币(百万元) 1a Aijian Securities (consol. level) 爱建证券 (合并) 1b Aijian Securities (company level) 爱建证券 (母公司) 2a AVIC Securities Co., Ltd. (consol. level) 中航证券 (合并) 2b AVIC Securities Co., Ltd. (company level) 中航证券 (母公司) 3a Beijing Gao Hua Securities (consol. 北京高华证券 level) (合并) 3b Beijing Gao Hua Securities (company 北京高华证券 level) (母公司) 4a BOC International (China) Limited (consol. level)# 中银国际证券 (合并)# 4b BOC International (China) Limited (company level) # 中银国际证券 (母公司)# 5a Bohai Securities (consol. level) 渤海证券(合并) 5b Bohai Securities (company level) 渤海证券(母公司) 6a Caida Securities (consol. level) 财达证券(合并) 6b Caida Securities (company level) 财达证券(母公司) 7a Caitong Securities (consol. level) 财通证券(合并) 7b Caitong Securities (company level) 财通证券(母公司) 8 Caitong Securities Asset Management Co., Ltd. 财通证券资产管理 9a Capital Securities (consol. level) 首创证券(合并) 9b Capital Securities (company level) 首创证券(母公司) 10a CEFC Shanghai Securites Limited (consol. level) 华信证券(合并) 10b CEFC Shanghai Securites Limited (company level) 华信证券(母公司) 11a Central China Securities (consol. level)* 中原证券(合并)* 11b Central China Securities (company level)* 中原证券(母公司)* 12a Century Securities (consol. level) 世纪证券(合并) 12b Century Securities (company level) 世纪证券(母公司) 13 Changjiang Financing Services Co. 长江证券承销保荐 14a Changjiang Securities (consol. level)* 长江证券(合并)* 14b Changjiang Securities (company level)* 长江证券(母公司)* 15 Changjiang Securities Asset Management Co., Ltd. 长江证券(上海)资 产管理 16a China Development Bank Securities (consol. level) 国开证券(合并) 16b China Development Bank Securities (company level) 国开证券(母公司) 17a China Dragon Securities (consol. level) 华龙证券(合并) 17b China Dragon Securities (company level) 华龙证券(母公司) 18a China Fortune Securities (consol. level) 华鑫证券(合并) 18b China Fortune Securities (company level) 华鑫证券(母公司) Net brokerage commission income 经纪业务手续费 净收入 2016 2015 Net investment banking commission income 投资银行业务手 续费净收入 2016 2015 Net asset management commission income 受托客户资产管 理业务净收入 2016 2015 Investment income 投资收益 2016 2015 Fair value gains/losses on trading and derivatives position 公允价值变动净 损益 2016 2015 147 368 137 61 17 5 147 8 (3) 6 147 368 137 61 22 5 46 8 (3) 6 329 1,030 180 304 12 22 128 239 (9) 4 329 1,030 180 303 12 22 124 238 (9) 3 167 337 173 334 12 94 28 521 (2) 9 164 330 - - 12 95 27 515 (2) 9 863 2,309 587 372 586 544 571 1,033 (169) 69 840 2,257 587 372 602 564 378 864 (183) 82 533 1,449 245 93 112 118 1,973 2,154 (586) (338) 521 1,435 243 93 100 177 1,772 1,578 (521) - 884 2,503 81 74 9 30 592 674 (113) 76 874 2,494 81 74 26 43 350 559 (82) 55 1,146 2,549 487 471 777 516 1,737 1,493 (194) 147 1,211 2,552 487 471 - - 1,365 937 (140) 74 - - - - 784 579 8 2 - - 253 612 125 138 40 16 836 846 (63) (1) 243 602 125 138 35 16 818 844 (58) (1) 13 19 342 77 7 - 237 72 3 3 13 19 308 77 7 - 35 72 3 3 715 2,128 304 209 63 53 478 599 (61) 56 716 2,139 265 207 65 59 352 550 (78) 39 275 707 31 12 3 3 17 141 (63) 57 276 708 31 12 4 10 15 118 (64) 60 - - 333 364 - - 21 2 - - 2,111 4,719 690 523 629 329 1,148 1,604 (227) 25 1,918 4,517 338 144 - 50 1,150 1,640 (231) 19 - - - - 619 266 40 (5) - - 80 258 464 330 225 80 258 464 330 193 525 1,475 260 299 22 505 1,450 260 297 48 460 1,087 514 528 98 412 983 23 22 102 111 1,797 1,707 (245) 125 98 1,537 1,059 33 5 62 290 509 54 13 99 325 474 4 12 40 159 234 (27) 22 41 142 200 (27) 26 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
65. 二零一七年中国证券业调查报告 62 Net interest income/ (expenses) 利息净收入/ (支出) Operating income 营业收入 Operating expenses 营业支出 Asset impairment Profit/loss charge/ (write back) 利润(/ 亏损)总额 资产减值损失(/ 转回) Total tax expenses/ (income) 所得税费用/(收益) Net profit/(loss) after tax 净利润(/ 亏损) 2016 (33) 60 240 2015 89 88 357 2016 424 419 896 2015 544 544 1,968 2016 390 388 449 2015 340 340 763 2016 32 32 - 2015 1 1 (5) 2016 50 47 456 2015 206 206 1,205 2016 8 8 121 2015 30 30 301 2016 42 39 335 2015 176 176 904 239 357 891 1,963 441 760 - (5) 454 1,204 120 301 334 903 (83) (132) 976 1,657 881 908 - - 98 752 24 194 74 558 (62) (128) 527 1,168 453 498 - - 75 671 21 170 54 501 382 594 2,831 4,948 1,523 2,184 15 65 1,431 2,772 365 695 1,066 2,077 331 485 2,563 4,649 1,455 2,074 15 (251) (78) 2,104 3,475 1,038 1,655 10 (177) (34) 2,018 3,321 975 1,612 12 592 674 1,837 3,901 955 1,202 3 479 607 1,756 3,855 924 1,169 3 254 1,370 4,256 10,241 2,114 6,337 (15) 281 850 3,239 4,939 1,521 2,218 (11) 8 3 800 584 591 388 (3) (116) 9 1,102 1,633 603 706 46 (125) (2) 1,064 1,608 578 660 46 5 5 607 177 336 122 - 32 1,231 2,583 315 647 916 1,936 7 1,111 1,843 213 357 898 1,486 17 1,087 1,730 201 340 887 1,390 24 882 2,732 220 687 663 2,045 24 833 2,718 212 690 621 2,028 111 2,148 4,210 371 889 1,777 3,321 69 1,713 3,030 325 672 1,388 2,358 20 209 195 56 50 164 145 42 504 931 26 491 951 76 214 428 717 73 218 418 733 - 293 63 60 16 234 47 5 5 372 177 322 121 - - 72 65 4 16 68 49 318 562 2,027 4,004 1,068 2,093 (27) 128 975 1,891 228 489 747 1,402 228 495 1,675 3,831 878 1,998 (55) 127 826 1,836 211 466 615 1,370 87 82 1 1,355 127 119 2 1,205 351 346 355 5,857 1,048 1,028 368 8,500 366 357 272 3,157 484 465 279 4,102 8 (3) 6 573 2 140 4 433 8 (3) 9 572 2 141 7 431 1 1 86 94 21 23 65 71 88 100 2,736 4,404 519 908 2,217 3,496 1,236 1,100 4,479 7,512 2,373 3,461 65 90 2,132 4,053 356 801 1,776 3,251 3 4 663 264 201 76 - - 468 188 102 47 366 141 (622) (552) 1766 1983 788 693 153 (305) (136) 2099 1644 743 653 153 160 128 1,371 2,511 789 1,172 8 119 187 1,286 2,528 750 1,130 8 251 279 1,469 2,200 1,125 1,549 2 206 227 873 1,509 566 887 2 31 988 1,298 237 317 751 981 31 1,365 994 332 242 1,033 752 45 586 1,336 126 318 461 1,018 50 540 1,394 116 304 424 1,091 10 378 670 96 154 282 515 10 321 625 79 152 242 473 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
66. 63 Mainland China Securities Survey 2017 Financial highlights: profit and loss 财务摘要:利润表 RMB million 人民币(百万元) Net brokerage commission income 经纪业务手续费 净收入 Net investment banking commission income 投资银行业务手 续费净收入 Net asset management commission income 受托客户资产管 理业务净收入 Investment income 投资收益 Fair value gains/losses on trading and derivatives position 公允价值变动净 损益 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 19a China Galaxy Securities (consol. level)* 中国银河证券(合并)* 19b China Galaxy Securities (company level)* 中国银河证券 (母公司)* 20a China International Capital Corporation (consol. level) *# 中国国际金融 (合并)*# 20b China International Capital Corporation (company level) *# 中国国际金融 (母公司)*# 21a China Investment Securities (consol. level) 中国中投证券(合并) 21b China Investment Securities (company level) 中国中投证券 (母公司) 22a China Merchants Securities (consol. level)* 招商证券(合并)* 22b China Merchants Securities (company level)* 招商证券(母公司)* 23 China Merchants Securities Asset Management Co., Ltd 招商证券资产管理 24a China Minzu Securities (consol. level) 中国民族证券(合并) 24b China Minzu Securities (company level) 中国民族证券 (母公司) 25a China Post Securities (consol. level) 中邮证券(合并) 25b China Post Securities (company level) 中邮证券(母公司) 26a China Securities (consol. level)* 中信建投证券(合 并)* 26b China Securities (company level)* 中信建投证券 (母公司)* 27a Chinalin Securities (consol. level) 华林证券(合并) 27b Chinalin Securities (company level) 华林证券(母公司) 28 Chuancai Securities 川财证券 29a Cinda Securities (consol. level) 信达证券(合并) 29b Cinda Securities (company level) 信达证券 (母公司) 30 Citi Orient Securities # 东方花旗证券 # 31a CITIC Securities (consol. level)* 中信证券(合并)* 31b CITIC Securities (company level)* 中信证券(母公司)* 32a CITIC Securities (Shandong) (consol. 中信证券(山东) level) (合并) 32b CITIC Securities (Shandong) (company level) 中信证券(山东) (母公司) 33 Credit Suisse Founder Securities # 瑞信方正证券# 34a Daton Securities (consol. level) 大通证券(合并) 34b Daton Securities (company level) 大通证券(母公司) 35a Datong Securities Brokerage (consol. level) 大同证券(合并) 35b Datong Securities Brokerage (company level) 大同证券(母公司) 36a Dongguan Securities (consol. level) 东莞证券(合并) 36b Dongguan Securities (company level) 东莞证券(母公司) 37a Donghai Securities (consol. level) 东海证券(合并) 37b Donghai Securities (company level) 东海证券(母公司) 38a Dongxing Securities (consol. level)* 东兴证券(合并)* 38b Dongxing Securities (company level)* 东兴证券(母公司)* 5,751 15,204 5,995 15,429 1,521 2,476 1,191 2,078 2,244 6,018 2,162 5,900 4,720 12,441 4,332 11,873 610 610 71 71 3,895 1,840 1,840 193 193 8,804 3,650 8,605 286 286 115 1,041 937 9,495 5,414 809 809 255 2,501 2,412 18,367 9,661 879 2,203 879 2,203 40 - 247 729 248 730 247 738 247 1,101 1,046 716 625 1,063 1,025 738 2,590 2,541 1,666 1,568 2,441 2,416 1,028 979 3,259 2,285 566 554 2,154 2,000 285 285 8 8 4,163 4,105 385 385 216 242 232 1,096 5,389 4,941 - 112 114 114 37 37 303 303 796 788 831 786 757 721 2,650 1,698 541 523 2,566 2,296 210 210 3,070 2,983 467 467 138 440 431 666 4,477 3,776 - 124 246 246 1 1 234 234 884 884 704 610 453 - 444 333 189 223 1,143 - 1,064 57 57 96 96 725 849 95 95 24 283 270 6,379 2,100 - 28 32 46 46 116 115 90 95 316 595 449 3,993 4,704 (972) - 3,497 4,614 (970) 530 2,142 1,931 (383) 410 1,487 1,521 (331) 166 422 368 (197) 171 311 336 (193) 1,142 3,620 6,382 (1,596) 290 3,054 6,004 (1,271) 771 23 - 82 155 358 83 155 340 39 44 134 39 29 130 650 2,858 3,976 6 (41) (41) (48) (10) (450) 658 2,304 3,422 (266) 14 14 16 399 561 6,106 1,750 362 347 257 743 423 39 10,028 5,366 102 111 177 1,617 1,148 18 18,801 15,636 (27) (27) (138) (80) (39) (1,413) (988) - 84 39 - - 84 36 - - 5 - - 20 49 191 (19) 26 13 150 (5) 3 48 17 (9) 3 48 17 (9) 74 315 344 (61) 74 350 294 (61) 122 835 1,383 (1,273) 128 804 1,361 (1,180) 497 1,802 1,897 (99) 531 941 1,578 (55) (251) (245) 26 148 81 82 (150) 28 1 (41) (23) 1 (1) 4 10 20 20 107 67 (129) 1,355 1,509 - (5) (1) - 26 27 294 266 114 121 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
67. 二零一七年中国证券业调查报告 64 Net interest income/ (expenses) 利息净收入/ (支出) Operating income 营业收入 Operating expenses 营业支出 Asset impairment Profit/loss charge/ (write back) 利润(/ 亏损)总额 资产减值损失(/ 转回) Total tax expenses/ (income) 所得税费用/(收益) Net profit/(loss) after tax 净利润(/ 亏损) 2016 2,462 2015 4,695 2016 13,240 2015 26,260 2016 6,691 2015 13,137 2016 253 2015 142 2016 6,577 2015 13,134 2016 1,391 2015 3,257 2016 5,185 2015 9,877 2,077 4,076 11,707 24,924 5,852 12,262 229 110 5,868 12,670 1,214 3,111 4,654 9,558 (305) (74) 7,322 8,122 5,057 5,518 42 3 2,330 2,621 490 668 1,840 1,953 (293) (39) 4,890 6,031 3,611 3,999 8 15 1,342 2,044 314 515 1,028 1,528 1,122 1,506 4,377 8,715 2,743 3,834 73 9 1,643 4,886 430 1,240 1,213 3,645 994 1,429 4,073 8,468 2,464 3,630 1 2 1,619 4,844 397 1,227 1,222 3,616 895 774 6 373 373 110 72 1,592 2,621 2,374 5 498 498 107 89 2,354 11,695 9,618 1,098 1,448 1,449 284 269 13,259 25,292 23,184 777 2,965 2,965 482 460 19,011 5,309 4,257 272 950 950 164 163 6,272 11,715 10,640 211 2,136 2,136 213 213 7,586 66 228 6,453 13,634 1,036 2,706 5,417 10,928 66 231 5,419 12,600 816 2,446 4,603 10,153 - - 832 571 205 143 627 428 (2) 533 508 829 134 214 374 615 (2) 533 509 830 134 214 375 616 (1) 1 121 273 27 63 94 210 (1) 1 107 251 27 63 80 188 (2) 155 7,057 11,462 1,744 2,810 5,313 8,652 1,553 221 215 26 (173) 71 20 2,348 1,160 591 2,289 254 241 35 126 364 21 2,791 405 670 12,315 1,310 1,291 522 2,243 2,050 1,155 38,002 19,576 1,569 18,001 1,669 1,661 793 5,235 4,845 706 56,013 34,093 2,931 5,615 633 630 418 1,766 1,495 844 23,800 10,093 945 7,083 685 680 267 2,463 2,094 581 28,359 13,733 1,324 (7) (2) (2) 111 144 1,935 1,281 (7) 131 4 4 1 58 58 2,481 1,631 88 6,767 708 692 108 480 558 341 14,263 9,554 664 10,949 985 982 526 2,778 2,756 148 27,287 19,965 1,609 1,657 91 89 26 44 49 83 3,281 2,029 160 2,712 169 168 132 700 689 22 6,927 4,867 406 5,110 617 603 81 436 509 258 10,981 7,525 504 8,236 816 814 394 2,078 2,067 127 20,360 15,098 1,203 568 649 1,546 2,907 941 1,257 (5) 27 645 1,651 159 412 486 1,238 17 38 180 170 172 148 270 254 708 1,459 409 603 252 234 655 1,390 377 523 - - 8 22 4 6 3 16 - 39 300 857 80 214 220 642 - - 280 867 75 217 205 650 93 150 469 915 348 387 5 - 128 533 21 131 106 402 93 150 468 915 338 387 5 - 136 533 21 131 115 402 425 475 2,233 3,766 1,252 1,837 56 27 1,001 1,931 164 469 836 1,461 372 461 2,156 3,653 1,195 1,776 56 27 982 1,878 160 457 822 1,422 464 458 1,716 4,841 1,130 2,432 (20) 21 609 2,425 130 588 479 1,837 227 281 1,417 4,526 877 2,205 (38) 21 562 2,334 108 576 454 1,758 (388) (319) 3,573 5,357 1,939 2,833 62 201 1,639 2,530 286 485 1,353 2,045 107 253 3,431 5,529 1,813 2,628 63 98 1,621 2,898 281 604 1,340 2,294 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
68. 65 Mainland China Securities Survey 2017 Financial highlights: profit and loss 财务摘要:利润表 RMB million 人民币(百万元) Net brokerage commission income 经纪业务手续费 净收入 Net investment banking commission income 投资银行业务手 续费净收入 Net asset management commission income 受托客户资产管 理业务净收入 Investment income 投资收益 Fair value gains/losses on trading and derivatives position 公允价值变动净 损益 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 39a Essence Securities (consol. level) 安信证券(合并) 39b Essence Securities (company level) 安信证券(母公司) 40a Everbright Securities (consol. level)*# 光大证券(合并)*# 40b Everbright Securities (company level)*# 光大证券 (母公司)*# 41 Everbright Securities Asset Management Co., Ltd. 上海光大证券资产 管理 42a First Capital Securities (consol. level) * 第一创业证券(合并)* 42b First Capital Securities (company level) * 第一创业证券 (母公司)* 43a Fortune Securities (consol. level) 财富证券(合并) 43b Fortune Securities (company level) 财富证券(母公司) 44a Founder Securities (consol. level)* 方正证券(合并)* 44b Founder Securities (company level)* 方正证券(母公司)* 45a Galaxy Jinhui Asset management Co., Ltd (consol. level) 银河金汇证券资产管 理(合并) 45b Galaxy Jinhui Asset management Co., Ltd (company level) 银河金汇证券资产管 理(母公司) 46a GF Securities (consol. level)* 广发证券(合并)* 46b GF Securities (company level)* 广发证券(母公司)* 47a GF Securities Asset Management (Guangdong) (consol. Level) 广发证券资产管理 (广东)(合并) 47b GF Securities Asset Management (Guangdong) (company level) 广发证券资产管理 (广东)(母公司) 48a Golden Sun Securities (consol. level) 国盛证券(合并) 48b Golden Sun Securities (company level) 国盛证券(母公司) 49 Golden Sun Securities Asset Management Co., Ltd. 国盛证券资产管理 50 Goldman Sachs Gao Hua Securities # 高盛高华证券# 51a Goldstate Securities (consol. level) 金元证券(合并) 51b Goldstate Securities (company level) 金元证券(母公司) 52a Great Wall Glory Securities (consol. level) 长城国瑞证券(合并) 52b Great Wall Glory Securities (company 长城国瑞证券(母 level) 公司) 53a Great Wall Securities (consol. level) 长城证券(合并) 53b Great Wall Securities (company level) 长城证券(母公司) 54a Guangzhou Securities (consol. level) 广州证券(合并) 54b Guangzhou Securities (company level) 广州证券(母公司) 55a GuoDu Securities (consol. level) 国都证券(合并) 55b GuoDu Securities (company level) 国都证券(母公司) 56a Guolian Securities (consol. level) * 国联证券(合并)* 56b Guolian Securities (company level) * 国联证券(母公司)* 57a Guorong Securities (consol. level) 国融证券(合并) 57b Guorong Securities (company level) 国融证券(母公司) 58a Guosen Securities (consol. level) * 国信证券(合并)* 58b Guosen Securities (company level) * 国信证券(母公司)* 59a Guotai Junan Securities (consol. level)* 国泰君安证券 (合并)* 2,872 2,607 3,113 2,508 6,948 6,652 7,494 6,982 - - 331 758 326 562 562 3,662 2,661 - 743 1,173 1,173 6,900 6,206 - - - 5,381 13,721 4,978 13,319 - - - - 454 1,140 446 1,127 - - - - 251 704 251 704 125 338 125 338 847 1,066 491 1,902 1,818 1,169 413 1,101 430 399 589 589 217 126 5,595 5,347 1,020 992 1,476 1,476 400 314 15,780 15,429 7,059 17,641 1,593 1,562 1,466 1,343 - 505 259 453 453 582 192 - 3,281 3,183 - 184 182 173 146 146 67 67 1,066 1,066 788 771 213 211 385 54 306 310 2,683 2,665 3,498 972 922 1,211 1,137 - 660 437 150 150 364 129 - 2,113 1,979 - 62 62 334 144 144 6 6 861 861 331 331 126 126 289 29 151 151 2,159 2,145 3,062 206 355 868 - 1,011 517 286 21 68 171 153 441 457 4,158 1,766 1,924 42 - 42 - 66 79 117 117 310 326 731 709 103 105 61 97 15 23 247 411 2,370 690 590 910 - 960 286 250 20 230 100 79 426 426 3,593 1,163 1,163 45 39 5 147 147 27 27 247 289 171 169 132 144 33 63 11 17 445 547 2,219 1,656 1,576 1,441 1,440 1,967 1,565 3,901 3,064 (17) 23 732 1,183 624 189 (40) 3,587 2,840 37 1,043 718 509 2,297 1,909 7 5 - 6,750 10,315 5,032 8,047 979 127 64 127 167 300 160 299 3 - - 28 (4) 411 (29) 369 102 29 51 815 775 769 729 296 277 256 237 382 334 2,529 2,543 8,202 29 1,473 1,404 1,436 1,426 1,028 966 804 671 404 334 7,181 5,923 9,121 (329) (193) (410) (559) - (478) (176) (55) (73) (500) (328) (8) 182 193 (131) 121 122 (5) (6) 14 81 (82) (42) (34) 136 111 12 (14) (158) (149) (730) (437) (469) 196 191 143 218 - (202) 44 166 57 225 192 (5) 297 479 - (3) (3) (5) (57) (41) - 49 51 22 20 (171) (78) (109) (69) (13) (9) (415) (371) 105 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
69. 二零一七年中国证券业调查报告 66 Net interest income/ (expenses) 利息净收入/ (支出) Operating income 营业收入 Operating expenses 营业支出 Asset impairment Profit/loss charge/ (write back) 利润(/ 亏损)总额 资产减值损失(/ 转回) Total tax expenses/ (income) 所得税费用/(收益) Net profit/(loss) after tax 净利润(/ 亏损) 2016 1,028 699 1,596 1,512 2015 1,789 1,610 2,220 1,815 2016 7,674 6,736 9,165 6,729 2015 13,241 11,771 16,571 13,324 2016 4,310 3,383 5,354 3,425 2015 7,135 6,214 6,826 5,121 2016 163 149 335 310 2015 102 175 (10) (7) 2016 3,421 3,409 3,991 3,442 2015 6,135 5,582 9,846 8,265 2016 869 863 915 592 2015 1,534 1,395 2,099 1,695 2016 2,552 2,546 3,077 2,850 2015 4,601 4,187 7,747 6,569 19 11 1,013 994 421 382 - 1 592 612 148 151 445 461 294 218 2,028 3,010 1,270 1,702 7 42 773 1,321 183 283 590 1,038 (84) 98 287 82 (414) - (76) 1,369 2,552 762 1,352 226 1,343 2,508 908 1,269 300 1,273 2,426 803 1,181 807 7,760 10,915 4,609 5,394 565 5,136 9,177 2,793 3,620 17 470 445 395 373 7 15 620 1,207 127 259 493 948 4 14 442 1,240 59 265 383 976 (1) 13 470 1,242 69 266 400 976 49 457 3,162 5,447 580 1,349 2,582 4,098 14 16 2,342 5,480 292 1,359 2,050 4,121 - 1 80 77 21 19 59 58 9 16 471 442 396 371 3 1 80 76 20 19 60 57 728 2,930 20,712 33,447 10,186 15,767 423 282 10,705 17,806 2,296 4,193 8,409 13,612 803 2,947 14,350 27,243 6,700 12,539 46 136 7,667 14,724 1,489 3,469 6,178 11,255 (509) 14 2,121 1,317 745 432 - - 1,426 897 351 223 1,075 674 26 14 2,030 1,317 732 432 - - 1,348 897 332 223 1,016 674 279 254 1,252 1,801 463 854 (7) 21 796 939 182 233 614 705 268 251 1,180 1,777 429 833 (8) 21 750 935 174 233 576 703 6 - 52 6 22 4 - - 38 2 8 1 30 1 (41) (53) 533 510 527 458 - - 8 54 1 17 9 36 370 326 1,101 1,921 857 1,065 10 16 260 821 73 218 187 603 340 292 781 1,614 574 838 5 16 203 767 53 202 150 565 94 123 522 525 303 314 4 4 233 206 59 52 174 154 115 461 390 128 101 356 346 467 424 (77) (74) 1,914 2,045 4,555 123 437 394 (100) (136) 460 452 465 419 55 33 3,548 3,370 5,434 497 3,484 3,296 2,945 2,757 1,565 1,456 1,836 1,453 763 628 12,749 12,981 25,765 525 5,012 4,856 3,066 2,935 2,602 2,609 3,079 2,712 1,017 846 29,139 27,361 37,597 297 2,404 2,273 1,688 1,546 735 649 979 716 592 467 6,719 6,179 11,696 314 2,514 2,367 1,833 1,718 1,043 942 1,094 869 584 461 10,623 9,605 15,867 4 31 31 22 22 (7) (7) 101 100 11 6 445 277 1,211 4 214 206 66 1,029 2,509 66 972 2,495 190 1,271 1,238 190 1,223 1,221 32 841 1,586 32 814 1,691 55 860 1,990 55 733 1,841 1 172 435 1 161 386 847 6,107 18,594 305 6,864 17,824 770 14,774 22,051 54 185 174 306 296 168 144 216 183 40 40 1,551 1,533 3,421 52 619 606 315 311 331 300 492 452 99 90 4,646 4,413 5,356 160 844 798 965 927 673 670 644 550 132 121 4,556 5,331 11,353 154 1,890 1,889 923 910 1,255 1,392 1,498 1,389 336 296 13,949 13,411 16,695 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
70. 67 Mainland China Securities Survey 2017 Financial highlights: profit and loss 财务摘要:利润表 RMB million 人民币(百万元) Net brokerage commission income 经纪业务手续费 净收入 Net investment banking commission income 投资银行业务手 续费净收入 Net asset management commission income 受托客户资产管 理业务净收入 Investment income 投资收益 Fair value gains/losses on trading and derivatives position 公允价值变动净 损益 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 59b Guotai Junan Securities (company level)* 国泰君安证券 (母公司)* 60a GuoTai JunAn Securities Asset Management(consol. level) 国泰君安证券资产管 理(合并) 60b GuoTai JunAn Securities Asset Management(company level) 国泰君安证券资产管 理(母公司) 61a Guoyuan Securities (consol. level)* 国元证券(合并)* 61b Guoyuan Securities (company level)* 国元证券(母公司)* 62 Haiji Securities 海际证券 63a Haitong Securities (consol. level)* 海通证券(合并)* 63b Haitong Securities (company level)* 海通证券(母公司)* 64 Hengtai changcai Securities 恒泰长财证券 65a Hengtai Securities (consol. level)* 恒泰证券(合并)* 65b Hengtai Securities (company level)* 恒泰证券(母公司)* 66a Hongta Securities (consol. level) 红塔证券(合并) 66b Hongta Securities (company level) 红塔证券(母公司) 67a Hongxin Securities (consol. level) 宏信证券(合并) 67b Hongxin Securities (company level) 宏信证券(母公司) 68a Hua An Securities (consol. level)* 华安证券(合并)* 68b Hua An Securities (company level)* 华安证券(母公司)* 69a HuaChuang Securities (consol. level) 华创证券(合并) 69b HuaChuang Securities (company level) 华创证券(母公司) 70a Huafu Securities (consol. level) 华福证券(合并) 70b Huafu Securities (company level) 华福证券(母公司) 71a Huajin Securities (consol. level) 华金证券(合并) 71b Huajin Securities (company level) 华金证券(母公司) 6,456 15,485 3,075 2,761 - - 4,291 7,690 - - - - 2,001 1,488 105 219 - - 968 905 5,314 4,490 951 889 262 263 344 344 1,006 947 535 2,606 2,495 12,586 11,777 2,090 2,042 827 828 894 894 2,481 2,433 1,165 506 1,146 765 1,661 689 1,661 35 71 35 71 - 463 454 62 3,356 2,332 322 421 64 103 103 241 241 50 50 512 512 334 358 206 206 - 325 318 52 2,316 1,578 232 289 28 46 46 90 90 80 80 289 289 116 116 63 63 2,006 100 117 590 186 216 77 5 143 134 55 73 200 183 539 275 19 20 1,492 131 126 1,351 379 378 18 4 48 48 58 74 98 98 355 258 52 52 107 131 1,579 709 3 6,540 2,456 8 648 334 58 54 125 120 452 294 563 1,884 1,336 11 13,462 9,688 - 1,447 1,326 658 411 478 478 777 493 489 353 321 1,105 779 270 505 256 138 231 138 (315) 14 (15) (27) (10) - (640) (19) - (231) (311) 3 (229) (173) (13) (6) (37) (31) (355) (141) (91) (295) 26 1 (1,924) (1,654) 4 126 (41) (24) 11 11 (132) 114 (10) (92) (10) (115) 44 (123) 49 (17) 6 (6) 6 72a Huarong Securities (consol. level) 华融证券(合并) 389 1,024 1,348 953 20 205 2,609 3,182 34 (66) 72b Huarong Securities (company level) 华融证券(母公司) 389 1,024 1,055 844 893 600 1,455 1,519 (211) (68) 73a Huatai Securities (consol. level)* 华泰证券(合并)* 5,429 12,641 2,097 1,551 1,040 190 4,770 7,893 (340) (716) 73b Huatai Securities (company level)* 华泰证券(母公司)* 74a Huatai Securities (Shanghai) Asset 华泰证券(上海) Management Co., Ltd. (consol. level) 资产管理(合并) Huatai Securities (Shanghai) Asset 74b Management Co., Ltd. (company level) 华泰证券(上海) 资产管理(母公司) 75 Huatai United Securities 华泰联合证券 76a HuaXi Securities (consol. level) 华西证券(合并) 76b HuaXi Securities (company level) 77 Huaying Securities # 华西证券(母公司) 华英证券# 78a Hwabao Securities (consol. level) 华宝证券(合并) 5,141 12,313 211 152 - 5 2,603 5,837 - - - - 1,592 967 406 314 - - - - 1,840 1,197 70 (1) - - 1,820 1,326 - - 168 293 1,547 4,502 293 196 5 20 411 656 1,487 4,419 293 196 10 38 323 533 - - 342 264 - - 37 37 192 302 20 4 14 30 307 118 193 (677) (65) 95 - - - - 16 (139) 17 (141) (7) 4 (69) 19 78b Hwabao Securities (company level) 华宝证券(母公司) 79a Industrial Asset Management Co., Ltd (consol. level) 兴证证券资产管理 (合并) 192 302 20 - - - 4 19 32 210 118 (21) 9 - 549 776 (113) 154 136 (19) * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
71. 二零一七年中国证券业调查报告 68 Net interest income/ (expenses) 利息净收入/ (支出) Operating income 营业收入 Operating expenses 营业支出 Asset impairment Profit/loss charge/ (write back) 利润(/ 亏损)总额 资产减值损失(/ 转回) Total tax expenses/ (income) 所得税费用/(收益) Net profit/(loss) after tax 净利润(/ 亏损) 2016 3,222 2015 3,866 2016 16,982 2015 29,829 2016 8,044 2015 11,938 2016 859 2015 536 2016 9,461 2015 18,144 2016 2,063 2015 4,431 2016 7,398 2015 13,713 21 (63) 2,111 1,611 1,085 1,027 - - 1,112 622 267 197 845 425 19 822 719 2 3,840 2,671 13 128 179 430 412 81 60 468 411 (201) (58) (361) 290 (9) 12 860 2 1,106 976 5 4,756 3,319 12 164 296 405 389 135 134 479 424 (7) 116 311 501 34 34 555 2,121 3,376 2,927 70 28,012 12,120 348 2,668 1,523 975 833 917 882 1,734 1,681 1,964 1,448 2,593 1,823 499 511 5,320 1,618 5,773 5,320 71 38,086 25,692 247 4,606 4,235 1,974 1,658 1,720 1,680 3,816 3,687 2,375 1,976 3,415 3,189 367 367 6,058 1,084 1,599 1,400 56 17,363 5,700 273 2,040 1,274 562 405 597 570 935 861 1,377 1,063 1,523 1,262 350 349 3,225 1,026 2,120 1,968 59 17,134 9,212 216 2,438 1,906 654 539 924 890 1,359 1,287 1,426 1,142 1,645 1,536 224 224 3,626 - 21 17 1,419 13 2 6 41 (3) (5) 7 (1) 4 6 2 2 1 1 2 2 57 - 4 10 1,091 77 - 27 9 (52) (53) 6 5 7 7 3 4 9 9 2 2 513 1,123 1,780 1,515 11 11,162 6,824 76 643 259 419 429 333 321 804 823 599 395 1,080 556 150 162 2,101 630 3,665 3,347 13 21,119 16,545 31 2,193 2,330 1,325 1,121 796 789 2,456 2,397 950 836 1,769 1,653 157 157 2,435 270 364 255 2,231 1,099 19 120 25 80 82 84 84 199 189 167 108 180 85 (9) (9) 524 199 880 741 4,278 3,029 8 484 508 282 246 201 199 590 588 237 213 371 328 25 25 617 853 1,415 1,261 11 8,931 5,725 57 522 234 339 347 249 237 604 634 432 287 901 470 159 171 1,577 431 2,784 2,606 13 16,841 13,516 23 1,710 1,822 1,044 875 595 590 1,865 1,809 713 622 1,399 1,325 132 132 1,818 (145) (24) 3,467 3,929 1,378 1,790 39 432 2,096 2,142 426 541 1,670 1,600 3,484 4,081 16,917 26,262 8,519 11,992 (37) 2,659 3,370 11,109 21,611 5,217 9,566 17 73 8,593 14,263 2,074 3,466 6,519 10,798 86 5,949 12,024 1,311 2,879 4,638 9,145 75 (33) 2,009 1,344 734 367 1 1 1,376 977 344 245 1,032 733 31 13 1,941 1,210 688 274 1 1 1,355 936 339 234 1,016 702 222 155 2,220 1,778 1,445 1,177 (57) (15) 801 605 203 152 599 452 406 749 2,711 6,011 779 2,793 (514) 498 1,944 3,229 296 954 1,648 2,275 363 727 2,521 5,796 1,225 2,188 27 22 1,306 3,618 278 892 1,029 2,726 20 21 391 326 259 222 - - 135 109 34 29 101 81 157 170 628 647 419 425 (2) 8 209 222 37 56 173 167 166 170 593 639 416 425 (2) 8 178 214 37 56 141 158 8 15 582 928 323 405 - - 370 523 95 129 275 394 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
72. 69 Mainland China Securities Survey 2017 Financial highlights: profit and loss 财务摘要:利润表 RMB million 人民币(百万元) 79b Industrial Asset Management Co., Ltd (company. level) 兴证证券资产管理 (母公司) 80a Industrial Securities (consol. level)* 兴业证券(合并)* Net brokerage commission income 经纪业务手续费 净收入 2016 2015 Net investment banking commission income 投资银行业务手 续费净收入 2016 2015 Net asset management commission income 受托客户资产管 理业务净收入 2016 2015 Investment income 投资收益 2016 2015 Fair value gains/losses on trading and derivatives position 公允价值变动净 损益 2016 2015 - - - - 608 796 51 86 - - 1,641 3,782 1,416 1,130 558 779 1,863 2,859 (331) 182 80b Industrial Securities (company)* 兴业证券(母公司)* 1,508 3,657 1,410 1,112 - - 1,962 2,621 (443) 211 81a J.P. Morgan First Capital Securities # 第一创业摩根大通证 券(合并)# 81b J.P. Morgan First Capital Securities # 第一创业摩根大通证 券(母公司)# - - 295 221 - - 22 2 - - - - 295 221 - - 14 2 - - 82a Jianghai Securities (consol. level) 江海证券(合并) 393 1,084 154 80 126 161 252 389 (16) 16 82b Jianghai Securities (company level) 江海证券(母公司) 364 1,046 154 80 126 163 254 389 (16) 11 83a JZ Securities (consol. level) 九州证券(合并) 36 80 196 21 68 4 637 437 (11) 26 83b JZ Securities (company level) 84a Kaiyuan Securities (consol. level) 84b Kaiyuan Securities (company level) 85 Kington Securities 86 Lianchu Securities 87a LianXun Securities (consol. level) 87b LianXun Securities(company level) 九州证券(母公司) 开源证券(合并) 开源证券(母公司) 金通证券 联储证券 联讯证券(合并) 联讯证券(母公司) 31 79 196 21 65 4 605 436 1 26 143 279 491 25 63 19 371 536 (23) 5 122 261 491 25 59 19 354 506 (23) 5 - - - - - - - - - - 67 188 43 - 196 1 148 24 (19) - 307 793 126 59 62 62 234 277 (23) 1 307 793 126 59 62 62 229 277 (23) 1 88 Minmetals Securities Brokerage 五矿证券 89a Minsheng Securities (consol. level) 民生证券(合并) 89b Minsheng Securities (company level) 民生证券 (母公司) 90 Morgan Stanley Huaxin Securities # 摩根士丹利华鑫证 券# 91a Nanjing Securities (consol. level) 南京证券(合并) 64 182 156 44 8 12 90 148 14 22 578 1,476 612 509 35 28 - 515 (118) 67 580 1,479 610 509 37 30 (10) 477 (121) 77 - - 495 511 - - 5 14 - (6) 654 1,732 255 135 104 56 280 742 (123) 65 91b Nanjing Securities (company level) 南京证券(母公司) 619 1,692 257 138 104 56 256 608 (66) 58 92a New Times Securities (consol. level) 新时代证券(合并) 92b New Times Securities (company level) 新时代证券 (母公司) 93a Northeast Securities (consol. level)* 东北证券(合并)* 93b Northeast Securities (company level)* 东北证券(母公司)* 94 N-Securities 网信证券 482 1,255 428 309 1,147 1,484 439 830 (413) (154) 482 1,255 428 309 136 142 617 578 (41) 16 938 2,400 668 538 348 187 2,138 2,679 (234) 34 905 2,350 668 538 78 187 1,876 2,544 (199) 6 51 133 24 - 28 - 125 136 (5) (5) 95a Orient Securities (consol. level)* 东方证券(合并)* 1,638 3,465 1,488 895 893 1,396 3,614 9,507 (402) 271 95b Orient Securities (company level)* 东方证券(母公司)* 1,417 3,268 315 188 - - 3,260 9,090 (548) 471 96 Orient Securities Asset Management 上海东方证券资产 Co., Ltd. 管理 - - - - 895 1,408 85 11 - - 97a Pacific Securities (consol. level)* 太平洋证券(合并)* 371 1,038 199 105 278 70 609 1,311 (50) (33) * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
73. 二零一七年中国证券业调查报告 70 Net interest income/ (expenses) 利息净收入/ (支出) Operating income 营业收入 Operating expenses 营业支出 Asset impairment Profit/loss charge/ (write back) 利润(/ 亏损)总额 资产减值损失(/ 转回) Total tax expenses/ (income) 所得税费用/(收益) Net profit/(loss) after tax 净利润(/ 亏损) 2016 7 2015 8 2016 666 2015 890 2016 319 2015 401 2016 - 2015 - 2016 458 2015 488 2016 117 2015 120 2016 341 2015 368 957 1,222 7,589 11,541 4,680 5,675 10 38 2,908 5,919 565 1,420 2,344 4,499 574 921 5,079 8,581 3,137 4,134 5 36 1,776 4,470 230 1,059 1,545 3,412 21 29 337 252 263 229 - - 73 24 19 7 54 18 21 29 330 252 263 229 - - 67 24 18 7 49 18 324 320 1,240 2,065 732 920 32 5 511 1,146 130 291 381 855 309 304 1,199 2,009 685 866 25 5 516 1,142 129 290 387 852 (82) 34 859 603 635 341 1 - 257 261 38 54 219 207 (96) 34 810 600 585 333 - 21 19 1,075 892 872 554 43 15 9 1,028 834 829 515 42 2 3 2 3 5 6 - 39 36 485 249 342 239 1 339 351 1,061 1,552 777 936 11 338 351 1,056 1,552 772 936 11 - 258 267 2 212 340 2 209 322 - (3) (3) - 176 10 7 288 628 7 287 628 39 54 218 212 25 80 187 260 23 75 186 247 - - (3) (3) 21 - 155 10 74 158 214 470 74 158 214 470 182 194 515 616 364 388 2 1 151 241 38 61 113 180 357 350 1,529 3,029 1,316 1,404 11 12 219 1,629 60 414 158 1,215 333 345 1,470 2,976 1,269 1,357 15 12 207 1,622 56 412 151 1,210 14 23 514 544 483 531 - - 47 26 14 (4) 33 30 311 259 1,492 2,997 856 1,109 (1) 20 648 1,876 155 463 494 1,413 312 299 1,492 2,861 803 1,046 (5) 20 701 1,802 168 444 533 1,358 419 452 2,544 4,203 1,787 2,369 11 11 773 1,846 225 278 548 1,568 227 273 1,858 2,580 1,058 1,388 8 12 800 1,201 124 148 676 1,054 (195) 307 4,482 6,746 2,882 3,348 120 146 1,653 3,414 291 722 1,362 2,692 (293) 218 3,094 5,897 1,880 2,805 70 129 1,249 3,109 174 639 1,075 2,470 18 27 265 307 249 187 1 - 25 120 8 28 17 92 (847) (259) 6,877 15,435 4,274 6,040 288 - 2,813 9,499 387 2,125 2,427 7,374 (963) (471) 3,869 12,630 2,402 4,004 253 (14) 1,607 8,696 88 1,878 1,519 6,818 8 9 1,027 1,427 528 871 1 - 530 558 140 147 390 411 339 244 1,804 2,743 1,045 1,302 (15) 139 763 1,449 97 314 666 1,135 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
74. 71 Mainland China Securities Survey 2017 Financial highlights: profit and loss 财务摘要:利润表 RMB million 人民币(百万元) 97b Pacific Securities (company level)* 98a Ping An Securities (consol. level) 太平洋证券 (母公司)* 平安证券(合并) Net brokerage commission income 经纪业务手续费 净收入 2016 2015 Net investment banking commission income 投资银行业务手 续费净收入 2016 2015 Net asset management commission income 受托客户资产管 理业务净收入 2016 2015 Investment income 投资收益 2016 2015 Fair value gains/losses on trading and derivatives position 公允价值变动净 损益 2016 2015 371 1,038 198 103 280 70 327 1,295 (35) (34) 1,648 3,282 1,320 1,177 403 163 1,723 2,246 (43) 45 98b Ping An Securities (company level) 平安证券(母公司) 1,594 3,225 1,308 1,160 298 153 1,516 1,939 (41) 33 99 Qilu Securities (Shanghai) Asset Management Co., Ltd. 齐鲁证券(上海)资 产管理 - - - - 974 547 22 4 - - 100a Sealand Securities (consol. level)* 国海证券(合并)* 860 2,315 1,296 844 183 71 887 563 (262) 162 100b Sealand Securities (company level)* 国海证券(母公司)* 101 Shanghai Haitong Securities Asset Management Co., Ltd. 上海海通证券资产 管理 102a Shanghai Securities (consol. level) 上海证券(合并) 693 2,187 1,294 841 177 64 781 494 (217) 151 - - - - 625 1,415 140 148 3 (3) 727 1,823 65 77 15 15 3,348 707 (96) 119 102b Shanghai Securities (company level) 上海证券(母公司) 695 1,793 65 25 55 31 3,095 689 (83) 98 103a Shanxi Securities (consol. level)* 山西证券(合并)* 632 1,854 745 708 38 15 422 653 (128) 80 103b Shanxi Securities (company level)* 山西证券(母公司)* 104 Shenwan Hongyuan Financing Services Co. 105a Shenwan Hongyuan Securities (consol. level) 105b Shenwan Hongyuan Securities (company level) 106 Shenwan Hongyuan Securities (Western) 申万宏源证券承销 保荐 申万宏源证券 (合并) 申万宏源证券 (母公司) 申万宏源西部证券 107a SINOLINK Securities (consol. level)* 国金证券(合并)* 107b SINOLINK Securities (company level)* 国金证券(母公司)* 108a SooChow Securities (consol. level)* 东吴证券(合并)* 108b SooChow Securities (company level)* 东吴证券(母公司)* 109a Southwest Securities (consol. level)* 西南证券(合并)* 109b Southwest Securities (company level)* 西南证券(母公司)* 110a Tebon Securities (consol. level) 德邦证券(合并) 524 1,736 51 41 44 45 404 496 (123) 71 - - 885 512 - - 76 17 1 - 5,897 15,675 2,140 1,678 1,804 2,352 3,932 7,020 (1,022) 486 4,544 11,926 995 881 1,689 1,956 3,340 5,700 (709) 118 846 2,855 - - - - 1 - - - 1,512 3,132 1,305 1,142 175 244 529 999 (127) 35 1,463 3,079 1,299 1,135 169 236 506 907 (107) 74 1,300 2,646 897 758 221 207 1,730 2,384 (495) 307 1,146 2,578 897 758 257 254 1,374 2,114 (398) 251 844 2,080 1,368 1,469 113 683 1,371 3,948 (285) (65) 842 2,087 1,325 1,429 163 696 1,296 3,113 (149) 46 251 548 677 835 307 476 132 590 2 (216) 110b Tebon Securities (company level) 德邦证券(母公司) 196 521 635 799 307 476 106 554 3 (218) 111a Tianfeng Securities (consol. level) 天风证券(合并) 292 567 1,050 615 489 165 1,475 1,300 (253) 268 111b Tianfeng Securities (company level) 天风证券(母公司) 274 520 1,050 600 446 111 838 1,208 (262) 212 112a UBS Securities (consol. level) # 瑞银证券(合并)# 230 468 430 525 - 1 56 65 (15) 32 112b UBS Securities (company level) # 瑞银证券(母公司)# 230 468 430 525 - 1 56 65 (15) 32 113a Vanho Securities 万和证券(合并) 85 180 5 - 3 1 226 143 (23) 9 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
75. 二零一七年中国证券业调查报告 72 Net interest income/ (expenses) 利息净收入/ (支出) Operating income 营业收入 Operating expenses 营业支出 Asset impairment Profit/loss charge/ (write back) 利润(/ 亏损)总额 资产减值损失(/ 转回) Total tax expenses/ (income) 所得税费用/(收益) Net profit/(loss) after tax 净利润(/ 亏损) 2016 373 2015 267 2016 1,569 2015 2,746 2016 993 2015 1,272 2016 (17) 2015 139 2016 580 2015 1,476 2016 95 2015 313 2016 485 2015 1,163 397 444 7,356 8,745 4,804 5,545 8 37 2,712 3,153 497 676 2,215 2,477 413 481 5,738 7,627 3,424 4,603 2 41 2,471 2,976 439 621 2,032 2,355 3 1 999 553 873 534 - - 134 25 32 6 102 19 446 644 3,838 4,959 2,438 2,522 32 31 1,426 2,448 360 607 1,066 1,841 416 595 3,180 4,403 1,885 2,080 15 31 1,304 2,326 321 573 983 1,753 (25) 6 745 1,566 265 966 - - 472 595 118 149 354 446 253 456 4,322 3,213 1,439 1,582 220 87 2,963 1,645 724 404 2,239 1,241 386 433 4,224 3,082 1,388 1,477 220 266 350 2,346 3,839 1,647 1,841 14 152 303 1,137 2,731 668 953 13 87 2,916 1,619 726 401 2,190 1,218 4 708 2,004 180 523 528 1,481 4 472 1,775 97 447 375 1,327 15 11 1,054 601 660 426 - - 393 175 95 41 298 135 1,920 2,840 14,815 30,348 8,440 12,852 459 118 6,520 17,554 1,016 4,291 5,504 13,263 1,271 2,540 11,292 23,339 6,143 10,028 501 98 5,237 13,324 626 3,278 4,611 10,046 511 469 1,359 3,328 472 952 (5) 17 888 2,376 223 595 665 1,781 683 868 4,671 6,748 3,034 3,649 13 26 1,723 3,128 430 770 1,294 2,358 618 776 4,384 6,426 2,734 3,428 13 26 1,729 3,023 410 740 1,318 2,283 192 287 4,645 6,830 2,708 3,106 351 23 1,999 3,657 481 924 1,518 2,733 234 284 3,581 6,283 1,707 2,737 327 23 1,916 3,487 429 828 1,487 2,659 34 214 3,632 8,497 2,474 4,231 13 433 1,127 4,343 214 798 913 3,545 (50) 248 3,447 7,640 2,204 3,788 65 311 1,186 3,906 197 690 989 3,215 204 196 1,798 2,757 1,205 1,482 1 13 666 1,310 154 316 512 993 184 174 1,440 2,322 933 1,173 (1) 9 570 1,177 133 290 436 887 (217) 71 3,096 3,224 1,975 1,942 43 39 1,154 1,277 199 276 955 1,001 (246) (49) 2,189 2,652 1,486 1,586 9 15 723 1,056 150 238 573 818 17 1 880 1,232 781 844 (3) 3 124 398 30 97 95 301 6 (17) 869 1,213 774 826 (3) (6) 6 295 338 207 207 - 3 121 392 29 97 92 296 1 91 132 26 32 64 100 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
76. 73 Mainland China Securities Survey 2017 Financial highlights: profit and loss 财务摘要:利润表 RMB million 人民币(百万元) 113b Vanho Securities Net brokerage commission income 经纪业务手续费 净收入 2016 2015 Net investment banking commission income 投资银行业务手 续费净收入 2016 2015 Net asset management commission income 受托客户资产管 理业务净收入 2016 2015 Investment income 投资收益 2016 2015 Fair value gains/losses on trading and derivatives position 公允价值变动净 损益 2016 2015 万和证券(母公司) 85 180 5 - 3 1 226 143 (23) 9 114a Wanlian Securities (consol. level) 万联证券(合并) 450 1,120 185 180 46 41 268 466 (42) 52 114b Wanlian Securities (company level) 万联证券(母公司) 450 1,120 185 180 46 41 266 466 (42) 52 115a Western Securities (consol. level)* 西部证券(合并)* 937 2,716 864 713 105 53 1,367 1,083 (364) 238 115b Western Securities (company level)* 西部证券(母公司)* 892 2,674 866 713 116 60 1,328 1,066 (391) 234 116a Xiangcai Securities (consol. level) 湘财证券(合并) 710 1,827 271 196 137 115 243 415 (195) (34) 116b Xiangcai Securities (company level) 湘财证券(母公司) 710 1,827 271 196 138 121 148 371 (195) (34) 117a Xizang Eastmoney Securities (consol. level) 西藏东方财富(合并) 638 688 120 80 85 81 (22) 276 (25) (89) 117b Xizang Eastmoney Securities (company level) 西藏东方财富 (母公司) 579 634 120 80 85 81 (25) 268 (25) (89) 118a Yingda Securities (consol. level) 英大证券(合并) 270 693 179 44 22 70 333 390 7 (49) 118b Yingda Securities (company level) 英大证券(母公司) 220 660 179 44 22 70 304 299 5 3 119a Yintai Securities (consol. level) 银泰证券(合并) 155 412 7 - 6 2 111 395 (22) 33 119b Yintai Securities (company level) 银泰证券(母公司) 155 412 7 - 5 2 94 381 (22) 33 120 Zhejiang Zheshang Securities Asset Management Co., Ltd. 浙江浙商证券资产 管理 - - - - 571 586 12 33 (5) 5 121a Zheshang Securities (consol. level)* 浙商证券(合并)* 1,317 2,852 452 292 583 593 300 535 (89) 37 121b Zheshang Securities (company level)* 浙商证券(母公司)* 1,319 2,852 452 290 - - 374 488 (83) 21 122 Zhongde Securities # 中德证券# - - 694 728 - - 8 - - - 123a Zhongshan Securities (consol. level) 中山证券(合并) 291 719 950 737 146 277 302 649 (87) 88 123b Zhongshan Securities (company level) 中山证券(母公司) 223 660 950 737 152 287 249 511 (25) 84 124a Zhongtai Securities (consol. level) 中泰证券(合并) 3,321 8,157 1,083 671 927 556 1,742 3,142 (674) 309 124b Zhongtai Securities (company level) 中泰证券(母公司) 3,168 7,991 1,032 631 - - 1,584 2,304 (642) 275 125a Zhongtian Securities (consol. level) 中天证券 (合并) 222 501 3 - 3 - 231 282 (93) 36 125b Zhongtian Securities (company level) 中天证券 (母公司) 205 492 2 - 5 1 229 269 (91) 126 Dongzheng Ronghui Securities Asset Management 东证融汇证券资管 - 127 Shenggang Securities Company# Limited 申港证券# - 128 China Renaissance Securities (China) Co., Ltd.# 华菁证券# - 129a Bohai Huijin Securities Asset Management Co., Ltd. (consol. level) 渤海汇金资管(合并) - Bohai Huijin Securities Asset 129b Management Co., Ltd. (company level) 渤海汇金资管(母 公司) - - - - - - 8 - - - - - 270 - - - - - 36 - 44 - 34 - 5 - - - 27 - 1 - 1 - (6) - - - (18) - - Total (consol.) 合计(合并) 119,955 288,515 72,444 56,545 35,740 34,606 113,122 176,332 (19,182) 34 - 1,218 Total (company) 合计(母公司) 110,200 275,555 68,116 52,518 29,922 27,381 87,378 148,437 (14,979) 3,125 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
77. 二零一七年中国证券业调查报告 74 Net interest income/ (expenses) 利息净收入/ (支出) Operating income 营业收入 Operating expenses 营业支出 Asset impairment Profit/loss charge/ (write back) 利润(/ 亏损)总额 资产减值损失(/ 转回) Total tax expenses/ (income) 所得税费用/(收益) Net profit/(loss) after tax 净利润(/ 亏损) 2016 (6) 2015 6 2016 295 2015 338 2016 207 2015 207 2016 - 2015 1 2016 91 2015 132 2016 26 2015 32 2016 64 2015 100 217 180 1,145 2,045 732 1,164 40 6 422 884 107 224 315 661 217 180 1,141 2,045 727 1,164 40 6 422 884 107 224 316 661 396 744 3,406 5,641 1,962 3,005 14 26 1,470 2,647 356 679 1,113 1,968 330 665 3,157 5,418 1,743 2,790 8 19 1,438 2,640 342 675 1,096 1,964 390 476 1,609 3,028 1,055 1,392 241 16 579 1,646 153 407 426 1,239 389 477 1,516 2,993 912 1,393 102 18 629 1,610 163 407 465 1,203 235 96 1,108 1,382 691 998 15 134 421 392 47 30 374 361 218 77 1,027 1,301 620 919 15 134 411 390 44 29 367 361 150 151 1,001 1,320 582 628 3 13 401 691 108 172 292 519 112 120 878 1,214 488 536 3 16 372 678 100 168 271 510 133 138 394 981 207 345 (1) 18 200 639 48 161 152 478 132 135 372 963 202 342 (1) 18 181 621 47 160 134 461 (3) 8 576 632 281 340 9 - 305 298 77 80 228 218 720 855 4,595 6,189 2,969 3,673 9 81 1,643 2,525 402 691 1,241 1,834 594 690 2,692 4,367 1,561 2,275 (2) 81 1,133 2,089 272 566 860 1,523 39 41 740 769 494 529 (1) - 248 247 70 66 178 181 71 211 1,727 2,771 1,198 1,611 18 13 510 1,160 159 285 351 875 90 187 1,693 2,577 1,126 1,519 18 13 549 1,058 160 278 389 780 903 1,915 8,337 15,045 5,206 7,029 43 198 3,183 8,027 649 1,937 2,533 6,091 770 1,783 6,196 13,187 3,241 5,815 (6) 19 2,998 7,373 589 1,804 2,409 5,569 21 17 399 853 344 402 4 - 60 451 16 116 44 335 29 34 385 836 309 370 4 - 78 466 20 117 59 349 2 - 307 - 162 - - - 155 - 37 - 118 - 64 - 63 - 103 - - - (33) - - - (33) - 7 - 37 - 124 - - - (66) - (16) - (50) - (1) - 45 - 27 - - - 18 - 5 - 14 - 1 - 45 - 26 - - - 18 - 5 - 14 - 43,606 37,631 66,465 400,892 653,102 231,627 310,162 58,472 328,610 575,305 177,146 257,712 8,498 5,751 10,618 173,167 344,348 6,899 154,728 318,493 37,088 31,516 81,213 136,077 263,134 74,262 123,221 244,227 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
78. 75 Mainland China Securities Survey 2017 Financial highlights: balance sheet 财务摘要:资产负债表 RMB million 人民币(百万元) Number of branches 营业部数目 Total assets 资产合计 Client monies held in segregated accounts 客户资金存款 Trading and derivatives financial assets 交易性及衍生金 融资产 Available-forsale and heldto-maturity finacial assets 可供出售及持 有至到期金融 资产 Long-term investments 长期股权投资 1a Aijian Securities (consol. level) 爱建证券 (合并) 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 - - 9,207 8,738 2,070 2,877 3,059 2,168 525 765 - - 1b Aijian Securities (company level) 爱建证券 (母公司) 2a AVIC Securities Co., Ltd. (consol. level) 2b AVIC Securities Co., Ltd. (company level) 3a Beijing Gao Hua Securities (consol. level) 3b Beijing Gao Hua Securities (company level) 4a BOC International (China) Limited (consol. level) # 4b BOC International (China) Limited (company level) # 中航证券 (合并) 中航证券 (母公司) 北京高华证券 (合并) 北京高华证券 (母公司) 中银国际证券 (合并)# 中银国际证券 (母公司)# 5a Bohai Securities (consol. level) 渤海证券(合并) 35 21 6,277 6,354 2,070 2,877 36 185 679 921 - - - - 12,493 14,255 4,480 7,043 68 80 2,665 1,053 29 30 73 69 12,473 14,230 4,480 7,043 68 74 2,665 1,054 329 46 - - 6,047 9,776 298 1,258 384 540 - - 1 1 3 3 3,713 5,050 36 296 384 540 - - 772 772 - - 45,694 52,593 7,089 14,717 4,088 6,880 5,607 5,932 - 2 54 54 40,097 47,269 5,813 13,919 3,344 5,692 5,466 5,981 976 976 - - 53,213 48,358 5,572 8,121 28,216 18,419 6,812 6,175 9 8 5b Bohai Securities (company level) 渤海证券(母公司) 51 52 51,485 45,196 5,369 7,955 26,584 15,858 3,591 4,521 1,283 583 6a Caida Securities (consol. level) 财达证券(合并) - 32,925 35,698 9,045 13,820 8,252 5,894 2,024 2,192 - - 6b Caida Securities (company level) 财达证券(母公司) 107 107 29,824 32,791 8,927 13,676 4,797 2,990 2,502 2,518 521 521 7a Caitong Securities (consol. level) 财通证券(合并) - 7b Caitong Securities (company level) 财通证券(母公司) 111 8 Caitong Securities Asset Management Co., Ltd. 财通证券资产管理 有限公司 - - 54,778 64,171 12,854 17,108 9,626 7,191 8,630 5,654 2,314 1,897 90 51,776 60,740 12,619 16,982 4,836 3,082 10,919 7,015 3,177 2,589 - 1,037 712 - - - - 422 79 - - 9a Capital Securities (consol. level) 首创证券(合并) - - 19,212 22,020 4,533 6,376 3,952 3,990 2,922 3,992 672 594 9b Capital Securities (company level) 首创证券(母公司) 47 41 18,895 21,898 4,273 6,259 3,839 3,913 2,867 3,704 965 887 10a CEFC Shanghai Securites Limited (consol. level) 华信证券(合并) - - 10,038 905 119 153 3,441 113 1,316 100 3,012 - 10b CEFC Shanghai Securites Limited (company level) 华信证券(母公司) 13 1 9,717 907 119 153 3,274 113 835 100 3,900 - 11a Central China Securities (consol. level)* 中原证券(合并)* - - 40,385 41,651 7,721 10,739 8,037 5,045 2,582 2,444 370 107 11b Central China Securities (company level)* 中原证券(母公司)* 82 75 36,183 38,913 7,374 10,427 5,634 3,408 2,207 2,492 1,977 1,258 12a Century Securities (consol. level) 世纪证券(合并) - - 7,553 8,998 3,314 4,386 587 1,176 139 33 - - 12b Century Securities (company level) 世纪证券(母公司) 31 33 7,448 8,753 3,314 4,386 554 1,140 169 104 - - 13 Changjiang Financing Services Co. 长江证券承销保荐 - - 362 325 - - 101 263 - - - - 14a Changjiang Securities (consol. level)* 长江证券(合并)* - - 107,095 99,625 20,502 26,964 15,479 14,161 8,771 8,212 732 413 14b Changjiang Securities (company level)* 长江证券(母公司)* 208 153 100,077 95,169 18,077 25,581 14,861 13,835 6,692 6,718 2,583 2,026 15 Changjiang Securities Asset Management Co., Ltd. 长江证券(上海) 资产管理有限公司 - - 994 390 - - - - 640 238 - - 16a China Development Bank Securities (consol. level) 国开证券(合并) - - 43,113 45,654 1,394 1,782 7,677 15,364 10,754 11,462 3 2 16b China Development Bank Securities (company level) 国开证券(母公司) 8 8 36,686 34,653 1,394 1,782 968 3,369 12,489 13,851 133 133 17a China Dragon Securities (consol. level) 华龙证券(合并) - - 35,012 29,982 4,605 5,531 633 295 6,608 5,089 725 717 17b China Dragon Securities (company level) 华龙证券(母公司) 68 56 32,368 28,052 4,221 5,196 326 151 6,279 4,821 1,049 948 18a China Fortune Securities (consol. level) 华鑫证券(合并) - - 16,515 19,612 6,129 7,463 426 495 1,128 1,227 127 117 18b China Fortune Securities (company level) 华鑫证券(母公司) 60 59 14,980 17,987 5,429 7,149 347 308 978 1,133 1,287 1,277 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
79. 二零一七年中国证券业调查报告 76 Trading and derivatives financial liabilities Short-term, long-term loans and debts issued 交易性及衍生金 短期、长期借款 融负债 及应付债券 (不包括应付短 期融资券) 2016 2015 2016 2015 Short-term financing bonds payable 应付短期融资券 Paid-in capital/ Share capital 实收资本/股本 Reserves 储备 2016 2015 2016 2015 2016 2015 Noncontrolling interests 少数股东权益 2016 2015 Net assets 净资产合计 2016 2015 Balance of Number of margin trading employees 融出资金 员工人数 2016 2015 2016 2015 - - 600 - - - 1,100 1,100 286 242 - - 1,386 1,342 924 947 781 575 - - 600 - - - 1,100 1,100 286 242 - - 1,386 1,342 924 947 781 575 - 24 200 700 495 132 1,985 1,985 1,439 1,458 - - 3,424 3,443 2,247 3,050 1,389 1,490 - - 200 700 495 132 1,985 1,985 1,437 1,458 - - 3,422 3,443 2,247 3,050 1,348 1,484 5 24 1,500 3,600 - - 1,072 1,072 1,741 1,713 438 435 3,251 3,220 - - 292 N/A 5 24 1,000 2,100 - - 1,072 1,072 1,345 1,334 - - 2,417 2,406 - - 167 201 110 555 6,500 8,790 1,584 - 2,500 2,500 8,217 7,509 1 - 10,718 10,009 8,514 10,546 N/A N/A 2 - 6,500 8,790 1,584 - 2,500 2,500 7,836 7,298 1,423 383 - 2,407 40 - 3,731 3,731 3,397 3,397 3,475 3,475 3,495 3,495 2,212 2,212 1,500 1,500 2,009 2,009 1,800 1,800 8,037 8,037 2,745 2,745 6,470 12,623 6,470 12,372 2,745 5,793 2,745 5,804 8,857 8,611 5,129 5,164 - - 10,656 7,209 1,879 5,787 3,230 3,230 12,016 9,428 - - 10,336 9,798 8,514 10,546 - - 20,660 15,327 3,708 4,692 - - 20,409 15,081 3,708 4,692 4 4 8,542 7,878 4,751 5,924 - - 8,549 7,909 4,751 5,924 92 144 15,338 12,802 8,558 11,636 2,492 2,397 1,614 N/A 2,226 2,142 1,493 N/A 1,856 1,778 2,734 N/A - - 10,486 7,100 1,879 5,787 3,230 3,230 11,206 8,923 - - 14,436 12,153 8,329 11,390 2,475 2,231 - - - - - - 200 200 309 157 - - 509 357 - - 175 132 196 - 3,880 3,680 45 1,300 650 650 3,040 2,735 - - 3,690 3,385 1,844 2,578 1,635 1,377 196 - 3,880 3,680 45 1,300 650 650 3,062 2,767 - - 3,712 3,417 1,844 2,578 1,584 1,329 - - - - 1,295 - 7,900 500 269 35 - - 8,169 535 - - 465 N/A - - - - 1,295 - 7,900 500 105 37 - - 8,005 537 - - 448 173 1,208 1,144 6,211 5,343 3,810 5,107 3,924 3,224 6,658 4,938 965 715 11,547 8,876 6,119 8,159 2,542 2,331 - - 5,494 5,291 3,810 5,107 3,924 3,224 6,508 4,978 - - 10,432 8,202 5,874 8,096 2,286 2,080 - 19 850 1,699 - - 700 700 692 688 - - 1,392 1,388 1,439 1,465 957 N/A - 19 850 1,699 - - 700 700 692 687 - - 1,392 1,387 1,439 1,465 957 1,009 - - - - - - 100 100 139 74 - - 239 174 - - 244 172 21 424 14,733 17,114 9,509 2,212 5,529 4,742 19,985 12,075 228 207 25,742 17,024 23,642 27,734 5,918 6,091 21 424 13,654 16,884 9,303 2,170 5,529 4,742 18,920 11,499 - - 24,449 16,241 22,888 27,331 5,172 5,347 - - - - - - 200 200 462 144 - - 662 344 - - 156 89 - - 8,050 - - 2,000 9,213 7,370 5,461 3,081 57 57 14,731 10,508 879 1,320 682 616 - - 8,050 - - 2,000 9,213 7,370 5,481 3,100 - - 14,693 10,470 879 1,320 636 581 96 - 1,014 - 3,304 2,194 6,327 2,200 7,582 2,300 372 21 14,281 4,521 2,937 3,383 1,818 1,610 96 - 1,014 - 3,317 2,194 6,327 2,200 7,643 2,375 - - 13,969 4,575 2,937 3,383 N/A N/A - 5 2,655 2,173 230 313 1,600 1,600 1,773 1,608 273 262 3,647 3,470 3,377 4,094 1,564 1,525 - - 2,650 2,168 230 313 1,600 1,600 1,902 1,766 - - 3,502 3,366 3,377 4,094 1,222 1,194 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
80. 77 Mainland China Securities Survey 2017 Financial highlights: balance sheet 财务摘要:资产负债表 RMB million 人民币(百万元) Number of branches 营业部数目 Total assets 资产合计 Client monies held in segregated accounts 客户资金存款 Trading and derivatives financial assets 交易性及衍生金 融资产 Available-forsale and heldto-maturity finacial assets 可供出售及持 有至到期金融 资产 Long-term investments 长期股权投资 19a China Galaxy Securities (consol. 中国银河证券 level)* (合并)* 19b China Galaxy Securities (company level)* 中国银河证券 (母公司)* 20a China International Capital Corporation (consol. level) *# 中国国际金融 (合并)*# 20b China International Capital 中国国际金融 Corporation (company level) *# (母公司)*# 21a China Investment Securities (consol. level) 中国中投证券 (合并) 21b China Investment Securities (company level) 中国中投证券 (母公司) 22a China Merchants Securities (consol. level)* 招商证券(合并)* 22b China Merchants Securities (company level)* 招商证券(母公司)* 23 China Merchants Securities Asset Management Co., Ltd 招商证券资产管理 24a China Minzu Securities (consol. 中国民族证券 level) (合并) 24b China Minzu Securities (company level) 中国民族证券 (母公司) 25a China Post Securities (consol. level) 中邮证券(合并) 25b China Post Securities (company level) 中邮证券(母公司) 26a China Securities (consol. level)* 中信建投证券 (合并)* 26b China Securities (company level)* 中信建投证券 (母公司)* 27a Chinalin Securities (consol. level) 华林证券(合并) 27b Chinalin Securities (company level) 华林证券(母公司) 28 Chuancai Securities 川财证券 2016 - 360 - 20 - 206 - 222 - 51 8 - 225 - 151 7 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 - 245,881 300,656 61,215 93,896 29,372 38,947 36,524 32,125 - 356 216,773 281,806 48,221 84,814 25,946 37,952 36,942 31,788 3,535 - 101,948 94,109 13,557 20,589 56,877 46,196 1,043 1,199 551 20 68,734 63,029 10,998 17,759 37,336 25,517 - - 5,082 - 82,002 96,560 25,206 38,261 7,646 6,392 3,252 3,217 250 160 75,692 92,210 23,157 36,240 7,577 5,864 3,003 2,850 1,676 - 243,058 291,656 50,327 72,416 49,354 63,843 24,722 35,743 5,289 200 217,415 269,665 41,610 64,321 38,697 54,405 23,809 35,008 11,359 - 2,364 949 - - 1,406 351 191 301 - - 22,478 31,291 5,905 10,842 3,823 2,639 4 59 - 51 22,478 31,275 5,902 10,837 3,823 2,624 4 62 - - 4,797 5,222 1,252 1,309 965 831 1,187 1,330 - 8 4,157 4,548 1,252 1,309 273 115 1,273 1,402 - - 181,695 183,188 50,364 65,576 27,602 30,132 35,249 17,736 172 205 159,236 164,542 45,921 62,916 14,696 18,191 34,401 17,641 2,041 - 14,400 17,982 4,281 5,136 1,958 1,749 122 100 - 78 14,382 17,977 4,281 5,136 1,958 1,749 61 6 6,026 4,486 668 976 1,494 2,420 200 98 120 - - 2015 - 3,185 453 3,714 85 1,408 4,898 9,369 50 1,880 320 - 29a Cinda Securities (consol. level) 信达证券(合并) - - 55,484 56,435 11,282 15,319 13,574 14,244 7,580 3,520 40 38 29b Cinda Securities (company level) 信达证券 (母公司) 89 82 42,812 44,852 9,550 12,965 2,874 4,225 9,521 5,609 1,182 984 30 Citi Orient Securities # 东方花旗证券 # - - 2,244 1,140 - - - - 509 644 - - 31a CITIC Securities (consol. level)* 中信证券(合并)* - 31b CITIC Securities (company level)* 中信证券(母公司)* 320 32a CITIC Securities (Shandong) (consol. level) 中信证券(山东) (合并) - 32b CITIC Securities (Shandong) (company level) 中信证券(山东) (母公司) 64 33 Credit Suisse Founder Securities # 瑞信方正证券# 2 34a Daton Securities (consol. level) 大通证券(合并) - 34b Daton Securities (company level) 大通证券(母公司) 53 35a Datong Securities Brokerage (consol. level) 大同证券(合并) - 35b Datong Securities Brokerage (company level) 大同证券(母公司) 39 36a Dongguan Securities (consol. level) 东莞证券(合并) - 36b Dongguan Securities (company level) 东莞证券(母公司) 66 37a Donghai Securities (consol. level) 东海证券(合并) - 37b Donghai Securities (company level) 东海证券(母公司) 64 - 597,439 616,108 100,994 116,139 163,399 148,387 84,879 92,135 3,974 4,484 259 451,610 484,126 67,255 81,538 110,378 103,310 68,230 76,601 26,040 26,089 - 21,801 28,080 8,771 11,443 - - 1,730 1,005 13 11 63 21,783 28,082 8,771 11,443 - - 1,728 1,002 283 281 1 892 890 - - 555 - - - - - - 10,354 13,981 3,541 3,764 921 1,091 484 556 81 80 53 9,506 12,954 3,325 3,462 439 663 454 507 654 654 - 8,721 8,034 3,091 3,721 676 27 427 266 - 45 38 8,724 8,034 3,091 3,721 641 27 391 246 45 45 - 36,715 38,302 10,202 12,647 1,325 2,581 4,261 3,606 8 8 45 35,539 37,590 9,695 12,450 1,320 2,503 4,072 3,382 252 252 - 47,813 39,486 10,222 10,811 8,768 8,991 14,621 4,585 65 92 64 25,030 30,724 7,574 8,568 1,538 3,568 3,355 4,031 1,677 1,104 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
81. 二零一七年中国证券业调查报告 78 Trading and derivatives financial liabilities Short-term, long-term loans and debts issued 交易性及衍生金 短期、长期借款 融负债 及应付债券 (不包括应付短 期融资券) 2016 2015 2016 2015 Short-term financing bonds payable 应付短期融资券 Paid-in capital/ Share capital 实收资本/股本 Reserves 储备 2016 2015 2016 2015 2016 2015 Noncontrolling interests 少数股东权益 2016 2015 Net assets 净资产合计 2016 2015 Balance of Number of margin trading employees 融出资金 员工人数 2016 2015 2016 2015 752 392 48,098 43,613 11,518 21,846 9,537 9,537 48,451 47,376 365 336 58,354 57,249 55,477 70,138 10,465 10,091 741 392 46,014 42,423 11,518 21,846 9,537 9,537 47,366 46,720 - - 56,903 56,258 52,800 68,115 9,473 9,173 11,419 6,655 18,948 6,071 2,650 1,700 2,307 2,307 16,140 14,135 50 - 18,497 16,442 3,045 3,296 2,637 2,267 2,636 714 15,400 5,000 2,650 1,700 2,307 2,307 14,135 13,572 - - 16,850 15,879 2,621 2,883 N/A N/A - - 11,518 12,538 1,505 - 5,000 5,000 10,053 8,979 105 88 15,158 14,067 19,123 25,070 4,031 3,874 - - 11,200 12,014 1,505 - 5,000 5,000 9,836 8,609 - - 14,836 13,609 18,842 24,730 3,757 3,588 6,283 4,236 54,086 56,505 21,782 27,878 6,699 5,808 53,127 42,543 89 81 59,915 48,432 53,352 64,389 10,817 6,744 2,813 2,210 50,834 53,331 21,782 27,878 6,699 5,808 50,185 40,466 - - 56,884 46,274 50,745 62,619 10,069 6,057 - - - - - - 1,000 300 1,077 438 - - 2,077 738 - - 99 91 - 16 3,000 3,883 - 1,652 4,487 4,487 3,641 3,659 - - 8,127 8,145 5,828 7,652 N/A N/A - - 3,000 3,883 - 1,652 4,487 4,487 3,641 3,659 - - 8,127 8,145 5,828 7,652 1,372 1,634 472 461 - - - - 2,060 2,060 419 328 - - 2,479 2,388 542 759 N/A N/A - - - - - - 2,060 2,060 410 323 - - 2,470 2,383 542 759 547 421 3,115 284 21,435 24,198 7,757 11,323 7,176 6,100 33,887 24,006 200 77 41,263 30,183 31,007 35,931 9,611 8,079 3,115 284 18,281 21,504 7,757 11,323 7,176 6,100 32,892 23,388 - - 40,068 29,488 29,746 35,288 8,819 7,409 296 - 1,000 1,000 236 62 2,430 2,080 985 724 - - 3,415 2,804 1,892 2,241 1,468 1,223 296 - 1,000 1,000 236 62 2,430 2,080 967 721 - - 3,397 2,801 1,892 2,241 - - 100 160 - - 650 650 928 927 - - 1,578 1,577 255 297 14 - 10,900 9,102 - - 2,569 2,569 6,271 6,366 97 103 8,936 9,037 7,217 8,893 14 - 10,900 9,102 - - 2,569 2,569 6,063 6,211 - - 8,632 8,779 7,217 8,893 - - - - - - 800 800 306 49 - - 1,106 849 - - 33,795 30,705 75,153 80,467 21,346 12,848 12,117 12,117 130,579 127,021 8,818 8,381 60,737 64,083 20,017 12,848 12,117 12,117 106,753 104,091 - - 900 6,510 - - 2,500 2,500 2,760 2,262 3,093 - 29 2,599 145,789 141,737 65,021 75,523 - 118,870 116,208 56,454 65,708 27 5,289 4,789 5,994 8,042 1,450 1,210 329 2,737 2,281 380 310 2,744 2,292 328 16,964 16,853 10,201 10,551 N/A N/A - - 900 6,510 - - 2,500 2,500 2,773 2,291 - - 5,273 4,791 5,994 8,042 N/A N/A - - - - - - 800 800 63 60 - - 863 860 - - 145 115 386 350 - - - - 3,300 3,300 2,017 1,839 66 66 5,383 5,205 1,828 2,631 948 992 - - - - - - 3,300 3,300 1,985 1,815 - - 5,285 5,115 1,828 2,631 883 921 - - 688 719 - - 730 730 650 607 4 - 1,384 1,337 1,170 1,560 N/A N/A - - 688 719 - - 730 730 650 607 - - 1,388 1,337 1,170 1,560 1,320 1,264 7 - 4,164 4,410 1,065 401 1,500 1,500 4,021 3,193 69 66 5,590 4,758 6,546 8,201 3,363 3,520 - - 4,164 4,410 1,055 401 1,500 1,500 3,966 3,134 - - 5,466 4,634 6,546 8,201 3,217 3,371 800 220 3,500 2,000 - 550 1,670 1,670 6,661 6,605 291 285 8,622 8,561 3,570 3,802 2,186 2,179 377 - 3,500 2,000 - 550 1,670 1,670 6,425 6,474 - - 8,095 8,144 3,570 3,802 1,776 1,793 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
82. 79 Mainland China Securities Survey 2017 Financial highlights: balance sheet 财务摘要:资产负债表 RMB million 人民币(百万元) Number of branches 营业部数目 Total assets 资产合计 Client monies held in segregated accounts 客户资金存款 Trading and derivatives financial assets 交易性及衍生金 融资产 Available-forsale and heldto-maturity finacial assets 可供出售及持 有至到期金融 资产 Long-term investments 长期股权投资 38a Dongxing Securities (consol. level)* 东兴证券(合并)* 38b Dongxing Securities (company level)* 东兴证券(母公司)* 39a Essence Securities (consol. level) 安信证券(合并) 39b Essence Securities (company level) 安信证券(母公司) 40a Everbright Securities (consol. level)*# 光大证券(合并)*# 40b Everbright Securities (company level)*# 光大证券(母公司)*# 41 Everbright Securities Asset Management Co., Ltd. 上海光大证券资 产管理 42a First Capital Securities (consol. level) * 第一创业证券 (合并)* 42b First Capital Securities (company level) * 第一创业证券 (母公司)* 43a Fortune Securities (consol. level) 财富证券(合并) 43b Fortune Securities (company level) 财富证券(母公司) 44a Founder Securities (consol. level)* 方正证券(合并)* 44b Founder Securities (company level)* 方正证券(母公司)* Galaxy Jinhui Asset 45a management Co., Ltd (consol. level) 银河金汇证券资产 管理(合并) 45b Galaxy Jinhui Asset management Co., Ltd (company level) 银河金汇证券资产 管理(母公司) 2016 - 63 - 251 - 203 - 37 - 65 - 296 - - 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 - 72,633 73,197 8,542 10,594 8,561 7,961 22,270 25,217 183 - 61 56,298 63,606 7,590 10,117 3,126 5,758 15,007 18,774 1,291 738 - 122,588 136,307 33,480 44,416 20,664 14,383 10,175 14,857 157 140 178 97,737 123,676 24,729 39,445 12,735 8,265 9,944 14,234 3,327 2,813 - 177,637 197,073 45,882 61,766 24,747 25,708 17,854 17,772 1,737 875 151 135,847 158,853 31,256 47,996 18,236 18,300 13,370 15,269 7,297 6,518 - 1,934 1,639 - - - 706 534 548 - - - 31,700 33,274 4,755 7,143 6,596 7,631 3,883 1,166 977 619 33 26,726 25,385 4,186 5,903 5,761 6,527 3,800 1,483 1,975 1,618 - 31,282 30,090 6,159 8,407 6,840 4,814 4,449 2,641 1,605 6 45 26,513 28,013 5,940 8,191 2,957 3,291 5,135 2,836 1,050 547 - 152,339 154,425 27,762 38,969 35,134 25,054 27,291 17,668 16 47 244 118,246 121,673 17,193 23,613 20,305 19,108 24,013 15,188 16,536 16,403 - 2,114 1,377 - - 1,017 131 99 73 - - - 745 680 - - - - 306 169 - - 46a GF Securities (consol. level)* 广发证券(合并)* - - 359,801 419,097 67,251 88,641 62,459 84,183 92,801 96,583 3,736 3,348 46b GF Securities (company level)* 广发证券(母公司)* 264 264 306,393 378,499 57,988 78,450 42,758 68,950 76,239 84,775 17,014 15,958 GF Securities Asset 47a Management (Guangdong) (consol. Level) 广发证券资产管理 (广东)(合并) - - 18,051 2,252 - - 14,571 423 1,046 1,320 - - GF Securities Asset 47b Management (Guangdong) (company level) 广发证券资产管理 (广东)(母公司) - - 3,523 2,252 - - 71 423 2,012 1,320 - - 48a Golden Sun Securities (consol. level) 国盛证券(合并) - - 20,323 16,475 5,058 7,495 2,412 459 3,754 1,871 66 65 48b Golden Sun Securities (company level) 国盛证券(母公司) 243 207 20,176 16,389 5,002 7,424 2,401 427 3,588 1,785 701 488 49 Golden Sun Securities Asset Management Co., Ltd. 国盛证券资产管理 - - 489 216 - - - - 100 - - - 50 Goldman Sachs Gao Hua Securities # 高盛高华证券# - - 2,147 3,162 - - - - - - - - 51a Goldstate Securities (consol. level) 金元证券(合并) - - 16,061 17,799 5,086 5,926 1,304 2,854 757 1,088 - - 51b Goldstate Securities (company level) 金元证券(母公司) 42 39 14,098 16,335 4,442 5,479 1,006 2,453 674 1,098 394 394 52a Great Wall Glory Securities (consol. level) 长城国瑞证券 (合并) - - 12,635 5,633 1,573 3,097 1,566 - 719 325 - - 52b Great Wall Glory Securities (company level) 长城国瑞证券 (母公司) 26 25 6,761 5,625 1,573 3,097 44 - 306 325 100 - 53a Great Wall Securities (consol. level) 长城证券(合并) - - 43,629 49,432 13,376 16,360 6,522 6,074 6,362 6,897 1,021 1,003 53b Great Wall Securities (company level) 长城证券(母公司) 103 101 41,128 45,927 12,166 15,189 6,444 5,128 5,499 5,915 2,122 2,104 54a Guangzhou Securities (consol. level) 广州证券(合并) - - 42,453 42,070 7,190 8,995 3,852 3,752 10,076 13,456 119 100 54b Guangzhou Securities (company level) 广州证券(母公司) 133 53 40,501 40,501 6,100 8,103 3,414 3,007 9,576 13,324 1,499 1,065 55a GuoDu Securities (consol. level) 国都证券(合并) - - 33,711 30,172 4,986 7,742 2,071 3,700 3,329 3,442 157 147 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
83. 二零一七年中国证券业调查报告 80 Trading and derivatives financial liabilities Short-term, long-term loans and debts issued 交易性及衍生金 短期、长期借款 融负债 及应付债券 (不包括应付短 期融资券) 2016 2015 2016 2015 Short-term financing bonds payable 应付短期融资券 Paid-in capital/ Share capital 实收资本/股本 Reserves 储备 2016 2015 2016 2015 2016 2015 Noncontrolling interests 少数股东权益 2016 2015 Net assets 净资产合计 2016 2015 Balance of Number of margin trading employees 融出资金 员工人数 2016 2015 2016 2015 3 2 19,987 16,218 - 2,930 2,758 2,504 15,561 11,081 37 3 18,355 13,585 9,576 12,949 3,158 2,773 3 2 13,840 12,200 - 2,930 2,758 2,504 15,514 10,915 - - 18,272 13,419 9,484 12,949 2,958 2,628 1,638 2 25,294 26,347 19 5,034 3,525 3,525 17,995 18,093 61 41 21,581 21,658 23,437 27,921 6,991 5,707 1,637 2 25,016 26,241 19 5,034 3,525 3,525 17,737 17,886 - - 21,262 21,411 22,938 27,698 6,429 5,197 679 1,023 38,618 43,116 5,930 2,100 4,611 3,907 42,585 36,576 1,441 1,941 48,637 42,424 37,428 43,404 7,932 7,164 476 1,023 25,520 34,939 5,930 2,100 4,611 3,907 42,049 35,421 - - 46,660 39,328 29,604 38,762 6,835 6,110 - - - - - - 200 200 1,180 964 - - 1,380 1,164 - - 126 110 3,073 5,452 7,299 3,000 - 1,200 2,189 1,970 6,424 4,181 508 424 9,121 6,575 3,257 4,382 2,803 1,916 - - 7,282 2,992 - 1,200 2,189 1,970 6,255 4,024 - - 8,444 5,994 3,257 4,382 2,338 1,595 3,141 1,461 2,932 3,296 1,172 321 2,983 2,136 3,519 2,031 4 77 6,506 4,244 4,306 5,289 1,817 1,612 - 35 2,897 3,296 702 321 2,983 2,136 3,475 2,019 - - 6,458 4,155 4,306 5,289 1,602 1,346 10,110 1,675 33,500 31,961 11,040 5,529 8,232 8,232 27,197 26,726 768 567 36,197 35,525 23,081 31,398 7,777 8,363 1 6 30,500 28,078 11,040 3,876 8,232 8,232 26,574 25,615 - - 34,806 33,847 17,253 23,746 5,450 5,806 - - - - - - 500 500 129 68 - - 629 568 - - N/A N/A - - - - - - 500 500 132 68 - - 632 568 - - 71 N/A 6,198 4,714 800 934 81,118 83,612 16,330 21,644 309 73,525 82,247 16,330 21,644 7,621 7,621 7,621 70,909 69,898 2,823 2,302 81,353 79,821 59,001 69,191 7,621 64,058 64,716 - - 71,679 72,337 55,938 66,678 - - - - - 1,000 1,000 1,977 919 - - 2,977 1,919 - - 11,544 11,126 10,021 N/A N/A N/A - - - - - - 1,000 1,000 1,977 919 - - 2,977 1,919 - - N/A N/A - - 1,395 1,370 - - 3,803 2,035 3,884 1,684 3 13 7,690 3,731 2,212 2,565 N/A N/A - - 1,395 1,380 - - 3,803 2,035 3,851 1,687 - - 7,655 3,721 2,212 2,565 1,388 1,250 - - - - - - 400 200 31 1 - - 431 201 - - 52 25 - - 500 1,500 - - 800 800 526 518 - - 1,326 1,318 - - 100 110 24 65 500 100 1,221 1,854 3,211 3,211 1,830 1,673 162 142 5,203 5,025 2,146 2,607 1,343 1,318 0 - 500 100 1,221 1,854 3,211 3,211 1,800 1,656 - - 5,011 4,867 2,146 2,607 1,156 1,155 - - 6,664 - - - 1,750 1,750 459 284 - - 2,209 2,034 536 547 N/A N/A - - 1,200 - - - 1,750 1,750 444 284 - - 2,194 2,034 536 547 654 674 1,151 510 3,000 3,300 315 2,060 2,793 2,793 10,973 11,030 94 85 13,860 13,908 7,877 9,575 3,249 3,158 1,151 510 3,000 3,300 315 2,060 2,793 2,793 10,861 10,959 - - 13,655 13,752 7,877 9,575 2,933 2,844 1,951 1,174 8,071 6,395 68 220 5,360 5,360 5,846 5,878 33 26 11,239 11,264 3,283 3,922 2,465 1,934 1,951 1,174 8,071 6,395 - 200 5,360 5,360 5,748 5,814 - - 11,109 11,175 3,283 3,922 20 71 3,498 5,093 1,600 2,500 5,300 5,300 3,347 3,510 148 138 8,795 8,948 4,064 6,274 2,138 1,641 1,184 1,146 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
84. 81 Mainland China Securities Survey 2017 Financial highlights: balance sheet 财务摘要:资产负债表 RMB million 人民币(百万元) Number of branches 营业部数目 Total assets 资产合计 Client monies held in segregated accounts 客户资金存款 Trading and derivatives financial assets 交易性及衍生金 融资产 Available-forsale and heldto-maturity finacial assets 可供出售及持 有至到期金融 资产 Long-term investments 长期股权投资 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 55b GuoDu Securities (company level) 国都证券(母公司) 58 57 32,422 29,293 4,480 7,420 729 2,712 2,831 3,107 2,130 1,522 56a Guolian Securities (consol. level) * 国联证券(合并)* - - 23,992 31,174 6,774 10,392 2,732 2,594 1,664 1,572 219 203 56b Guolian Securities (company level) * 国联证券(母公司)* 69 59 20,660 27,264 6,774 9,684 311 158 1,374 1,381 1,154 1,155 57a Guorong Securities (consol. level) 国融证券(合并) - - 17,876 11,134 2,470 2,539 6,111 2,067 1,350 699 19 14 57b Guorong Securities (company level) 国融证券(母公司) 59 51 13,550 7,329 1,280 1,519 5,320 1,771 1,424 434 208 208 58a Guosen Securities (consol. level) * 国信证券(合并)* - - 193,029 244,353 49,152 72,671 32,356 47,038 20,671 21,495 2,197 1,934 58b Guosen Securities (company level) * 国信证券(母公司)* 166 158 168,786 219,645 44,213 68,043 19,851 37,445 20,710 19,365 5,638 6,902 59a Guotai Junan Securities (consol. 国泰君安证券 level)* (合并)* - - 411,749 454,342 92,886 132,414 76,899 91,195 40,481 39,921 1,261 929 59b Guotai Junan Securities (company level)* 国泰君安证券 (母公司)* 302 243 312,410 351,567 59,934 95,449 54,723 74,269 32,424 31,308 11,266 11,171 60a GuoTai JunAn Securities Asset Management(consol. level) 国泰君安证券资产 管理(合并) - - 4,414 2,990 - - 440 1,565 416 513 - - 60b GuoTai JunAn Securities Asset Management(company level) 国泰君安证券资产 管理(母公司) - - 3,925 2,718 - - 104 1,292 416 513 112 41 61a Guoyuan Securities (consol. level)* 国元证券(合并)* - - 71,689 72,551 13,672 19,463 1,313 1,432 25,065 19,312 2,095 888 61b Guoyuan Securities (company level)* 国元证券(母公司)* 112 95 54,381 61,103 11,314 17,215 676 137 11,488 10,955 5,987 5,080 62 Haiji Securities 海际证券 - - 5,404 399 - - - 197 50 50 - - 63a Haitong Securities (consol. level)* 海通证券(合并)* - - 560,866 576,449 87,497 112,067 96,283 113,869 58,112 44,573 8,750 5,137 63b Haitong Securities (company level)* 海通证券(母公司)* 290 290 317,234 385,693 56,273 79,564 45,897 63,576 24,600 26,103 25,948 21,966 64 Hengtai changcai Securities 恒泰长财证券 - - 485 419 - - 4 - - - - - 65a Hengtai Securities (consol. level) * 恒泰证券(合并)* - - 37,149 39,168 9,821 10,737 8,323 9,872 3,765 2,745 8 10 65b Hengtai Securities (company level) * 恒泰证券(母公司)* 136 114 33,251 35,232 9,098 10,327 6,732 6,944 2,708 2,251 1,997 997 66a Hongta Securities (consol. level) 红塔证券(合并) - - 15,409 18,123 2,472 3,865 511 2,142 2,702 2,808 2 - 66b Hongta Securities (company level) 红塔证券(母公司) 39 38 14,724 17,401 2,374 3,797 108 1,199 2,516 2,538 1,120 1,020 67a Hongxin Securities (consol. level) 宏信证券(合并) - - 12,432 15,946 4,020 4,984 1,393 2,682 117 694 - - 67b Hongxin Securities (company level) 宏信证券(母公司) 53 50 10,732 15,652 4,020 4,984 1,126 2,682 564 718 50 50 68a Hua An Securities (consol. level)* 华安证券(合并)* - - 34,588 38,014 8,467 11,380 7,846 7,953 2,002 1,144 279 219 68b Hua An Securities (company level)* 华安证券(母公司)* 128 117 28,903 32,713 7,664 10,823 4,072 3,544 1,917 1,419 993 680 69a HuaChuang Securities (consol. level) 华创证券(合并) - - 25,630 23,351 3,941 4,163 10,138 2,279 462 4,147 17 24 69b HuaChuang Securities (company level) 华创证券(母公司) 61 45 24,991 19,411 3,661 3,948 10,130 1,888 319 994 399 399 70a Huafu Securities (consol. level) 华福证券(合并) - - 43,387 39,469 8,521 12,646 8,090 3,630 11,224 8,793 20 20 70b Huafu Securities (company level) 华福证券(母公司) 97 82 34,864 32,133 8,521 12,646 7,696 3,486 2,526 1,884 1,252 846 71a Huajin Securities (consol. level) 华金证券(合并) - - 9,201 4,059 750 855 4,134 1,450 1,607 79 - - 71b Huajin Securities (company level) 华金证券(母公司) 32 23 8,386 3,979 750 855 3,167 1,430 1,794 95 - - 72a Huarong Securities (consol. level) 华融证券(合并) - - 135,750 75,828 7,037 8,620 50,516 14,289 6,540 7,476 - 129 72b Huarong Securities (company level) 华融证券(母公司) 65 63 39,887 36,228 6,076 7,969 5,526 5,450 7,500 7,406 438 577 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
85. 二零一七年中国证券业调查报告 82 Trading and derivatives financial liabilities Short-term, long-term loans and debts issued 交易性及衍生金 短期、长期借款 融负债 及应付债券 (不包括应付短 期融资券) 2016 2015 2016 2015 Short-term financing bonds payable 应付短期融资券 Paid-in capital/ Share capital 实收资本/股本 Reserves 储备 2016 2015 2016 2015 2016 2015 Noncontrolling interests 少数股东权益 2016 2015 Net assets 净资产合计 2016 2015 Balance of Number of margin trading employees 融出资金 员工人数 2016 2015 2016 2015 - - 3,498 5,093 1,600 2,500 5,300 5,300 3,367 3,562 - - 8,667 8,862 4,055 6,272 1,024 978 1,788 2,794 3,300 3,150 - 2,500 1,902 1,902 5,667 5,833 327 293 7,896 8,029 4,353 6,085 1,507 1,199 0 0 3,290 3,150 - 2,500 1,902 1,902 5,440 5,673 - - 7,342 7,575 4,353 6,085 1,330 1,035 1,690 319 1,470 483 68 818 1,783 1,212 1,941 470 127 126 3,851 1,808 763 883 1,559 1,231 1,686 314 1,390 483 - 798 1,783 1,212 1,893 423 - - 3,676 1,635 763 883 1,278 930 332 1,153 46,359 54,350 611 5,525 8,200 8,200 40,191 41,673 54 15 48,445 49,888 40,154 47,305 9,344 9,143 120 786 44,945 52,369 611 5,525 8,200 8,200 39,259 40,021 - - 47,459 48,221 39,972 47,074 8,773 8,573 16,806 6,547 80,879 67,694 14,848 2,319 7,625 7,625 92,339 87,699 10,787 6,312 110,752 101,637 68,893 82,271 14,573 12,364 8,881 4,487 63,932 51,043 14,790 760 7,625 7,625 82,601 79,907 - - 90,226 87,532 50,498 64,881 11,221 10,036 - - - - - - 800 800 1,748 1,119 - - 2,548 1,919 - - N/A N/A - - - - - - 800 800 1,747 1,110 - - 2,547 1,910 - - 168 129 9,896 5,213 10,467 11,533 8,136 5,040 1,964 1,964 18,778 17,970 143 130 20,885 20,063 12,227 15,194 3,269 3,060 - - 9,492 10,485 7,717 5,040 1,964 1,964 17,958 17,359 - - 19,922 19,323 10,603 14,127 - - - - - - 3,280 500 2,113 (118) - - 5,394 382 - - 41,234 34,744 189,444 141,214 19,864 22,337 11,502 11,502 98,628 96,193 11,828 9,233 121,958 116,928 63,213 76,325 2,898 2,718 190 68 9,800 9,024 4,948 5,604 88,064 69,747 18,435 21,702 11,502 11,502 89,743 89,618 - - - - - - - 200 200 196 139 - - 22 3,373 3,673 2,800 1,000 2,605 2,605 7,056 6,927 275 - 101,245 101,120 44,592 60,508 - 396 339 - - 201 9,936 9,733 5,145 6,217 5,539 5,235 116 97 2,008 1,736 - 22 3,333 3,673 2,800 1,000 2,605 2,605 6,733 6,864 - 67 102 - 800 - - 3,269 3,269 7,886 8,158 119 - - - 800 - - 3,269 3,269 7,710 7,972 - - 9,338 9,469 5,145 6,217 98 11,274 11,526 1,655 2,422 - 10,979 11,242 1,655 2,422 1,515 1,385 952 927 758 775 - - 1,100 500 - - 1,000 1,000 1,097 1,085 5 4 2,103 2,089 1,711 2,280 1,352 1,115 - - 1,100 500 - - 1,000 1,000 1,088 1,077 - - 2,088 2,077 1,711 2,280 1,352 1,115 4,748 3,895 2,798 4,499 800 800 3,621 2,821 8,222 3,884 226 77 12,069 6,782 7,168 7,976 2,719 2,515 885 - 2,798 4,499 800 800 3,621 2,821 8,096 3,779 - - 11,717 6,600 7,168 7,976 2,467 2,273 - - 1,300 1,291 818 93 3,075 1,579 8,087 1,840 47 148 11,210 3,567 1,659 2,179 1,973 1,538 - - 1,300 1,291 818 955 464 12,862 4,305 - 955 464 6,632 1,705 - - - - - - - - - - - 93 3,075 1,579 7,854 1,726 - - 3,300 550 7,018 4,425 104 - 3,300 550 5,641 4,307 - - 3,200 1,280 91 100 - - 3,200 1,280 94 100 - - 10,930 3,305 1,659 2,179 37 10,422 5,011 7,288 8,406 - 8,941 4,857 7,288 8,406 - 3,291 1,380 472 319 - 3,294 1,380 472 319 1,889 1,453 2,998 2,365 2,863 2,283 N/A N/A 571 396 46 - 5,277 6,713 - 1,200 5,142 4,674 5,600 4,123 58 166 10,800 8,963 3,162 4,034 2,185 1,744 46 - 5,277 2,363 - 1,200 5,142 4,674 5,515 3,932 - - 10,657 8,606 3,162 4,034 2,070 1,620 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
86. 83 Mainland China Securities Survey 2017 Financial highlights: balance sheet 财务摘要:资产负债表 RMB million 人民币(百万元) Number of branches 营业部数目 Total assets 资产合计 Client monies held in segregated accounts 客户资金存款 Trading and derivatives financial assets 交易性及衍生金 融资产 Available-forsale and heldto-maturity finacial assets 可供出售及持 有至到期金融 资产 Long-term investments 长期股权投资 73a Huatai Securities (consol. level)* 73b Huatai Securities (company level)* Huatai Securities (Shanghai) 74a Asset Management Co., Ltd. (consol. level) Huatai Securities (Shanghai) 74b Asset Management Co., Ltd. (company level) 75 Huatai United Securities 华泰证券(合并)* 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 - - 401,450 452,615 68,437 98,427 83,214 131,573 43,742 38,124 3,377 2,674 华泰证券(母公司)* 242 245 271,390 323,550 51,780 85,565 28,575 61,542 29,691 30,843 19,451 8,884 华泰证券(上海) 资产管理(合并) - - 34,198 33,152 - - 19,536 25,476 545 75 - - 华泰证券(上海) 资产管理(母公司) - - 5,153 2,202 - - 933 - 2,265 766 - - 华泰联合证券 - - 7,974 6,955 - - - - 3,261 3,208 - - 76a HuaXi Securities (consol. level) 华西证券(合并) - 76b HuaXi Securities (company level) 华西证券(母公司) 75 77 Huaying Securities # 华英证券# - 78a Hwabao Securities (consol. level) 华宝证券(合并) - 78b Hwabao Securities (company level) 华宝证券(母公司) 16 79a Industrial Asset Management Co., Ltd (consol. level) 兴证证券资产管理 (合并) - 79b Industrial Asset Management Co., Ltd (company. level) 兴证证券资产管理 (母公司) - 80a Industrial Securities (consol. level)* 兴业证券(合并)* - 80b Industrial Securities (company)* 兴业证券(母公司)* 137 81a J.P. Morgan First Capital Securities # 第一创业摩根大通 证券(合并)# - 81b J.P. Morgan First Capital Securities # 第一创业摩根大通 证券(母公司)# - 82a Jianghai Securities (consol. level) 江海证券(合并) - 82b Jianghai Securities (company level) 江海证券(母公司) 50 83a JZ Securities (consol. level) 九州证券(合并) - - 48,092 55,435 14,253 21,115 3,769 4,158 7,105 6,177 28 31 74 45,413 53,490 13,014 19,677 3,654 4,044 6,177 5,182 1,541 2,145 - 1,612 1,081 - - 453 290 - - - - - 12,098 13,600 3,692 3,992 2,488 2,234 1,631 2,719 - - 15 11,276 13,079 3,692 3,992 1,862 1,604 1,477 2,828 - - - 3,936 2,139 - - 1,646 983 448 264 - - - 1,696 1,597 - - - 340 800 636 - - - 136,535 113,818 19,527 25,279 37,234 23,514 18,047 13,758 261 105 65 109,826 98,475 10,644 19,148 31,570 21,687 13,988 11,798 4,300 2,431 - 987 902 - - 10 - - - - - - 987 902 - - - - 11 - - - - 23,802 19,190 4,801 7,333 1,208 1,117 5,678 977 - - 44 23,083 18,676 4,429 7,113 1,206 1,100 5,673 977 154 168 - 14,891 7,337 691 220 794 320 7,616 1,495 45 49 83b JZ Securities (company level) 九州证券(母公司) 7 1 14,270 7,252 655 185 474 257 6,280 1,423 1,455 302 84a Kaiyuan Securities (consol. level) 开源证券(合并) - - 9,053 8,177 2,129 2,158 471 219 1,542 3,042 200 93 84b Kaiyuan Securities (company level) 开源证券(母公司) 36 32 8,673 7,701 1,854 1,917 453 219 1,394 2,801 425 317 85 Kington Securities 金通证券 2 2 93 96 - - - - - - - - 86 Lianchu Securities 联储证券 48 15 6,466 4,270 1,122 1,419 486 150 741 417 - - 87a LianXun Securities(consol. level) 联讯证券(合并) - - 30,256 26,153 3,542 5,727 1,286 1,605 2,812 3,264 - - 87b LianXun Securities(company level) 联讯证券(母公司) 41 41 30,252 26,153 3,542 5,727 1,286 1,605 2,788 3,264 201 - 88 Minmetals Securities Brokerage 五矿证券 34 32 6,046 6,125 - - 359 460 51 - - - 89a Minsheng Securities (consol. level) 民生证券(合并) - - 33,548 32,207 7,492 9,350 10,297 4,874 1,436 834 1 1 89b Minsheng Securities (company level) 民生证券 (母公司) 48 48 33,075 31,665 7,135 9,162 10,291 4,688 989 568 1,214 914 90 Morgan Stanley Huaxin Securities # 摩根士丹利华鑫 证券 # - - 982 927 - - - - - - - - 91a Nanjing Securities (consol. level) 南京证券(合并) - - 26,858 42,915 7,623 10,306 2,204 4,026 2,501 6,907 98 99 91b Nanjing Securities (company level) 南京证券(母公司) 84 76 25,406 41,713 7,075 9,795 1,438 3,375 2,379 6,898 579 380 92a New Times Securities (consol. level) 新时代证券(合并) - - 25,815 26,456 4,946 6,566 6,514 5,319 2,295 1,736 3,170 - 92b New Times Securities (company level) 新时代证券(母 公司) 65 58 20,989 21,585 4,946 6,566 2,558 1,382 2,009 2,118 2,035 1,535 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
87. 二零一七年中国证券业调查报告 84 Trading and derivatives financial liabilities Short-term, long-term loans and debts issued 交易性及衍生金 短期、长期借款 融负债 及应付债券 (不包括应付短 期融资券) 2016 2015 2016 2015 Short-term financing bonds payable 应付短期融资券 Paid-in capital/ Share capital 实收资本/股本 Reserves 储备 2016 2015 2016 2015 2016 2015 Noncontrolling interests 少数股东权益 2016 2015 Net assets 净资产合计 2016 2015 Balance of Number of margin trading employees 融出资金 员工人数 2016 2015 2016 2015 28,784 23,889 76,308 73,545 1,621 1,053 7,163 7,163 77,195 73,622 1,303 744 85,660 81,529 56,605 67,432 6,967 6,853 16,973 16,865 72,483 69,660 1,621 1,053 7,163 7,163 68,779 67,283 - - 75,942 74,445 56,523 67,352 5,281 5,410 - - - - - - 2,600 1,000 1,766 733 - - 4,366 1,733 - - N/A N/A - - - - - - 2,600 1,000 1,766 733 - - - - - - - 997 997 5,338 4,659 - 443 - 13,756 13,100 - - 2,100 2,100 9,790 8,333 101 443 - 13,756 13,100 - - 2,100 2,100 9,758 8,943 - - - - - - - 800 800 182 82 - 246 520 - - 170 1,394 4,000 4,000 582 541 554 246 - - - 170 1,394 4,000 4,000 581 539 - 1,915 450 - 251 - - 500 500 820 542 - - - - 251 - - 500 500 820 542 - 3,951 1,163 31,400 28,574 17,116 4,238 6,697 5,200 24,996 13,315 2,605 2,009 698 27,473 26,298 17,287 4,463 6,697 5,200 22,801 11,817 - - - - - - - 800 800 78 24 - - - - - - - 800 800 78 24 - 55 13 1,103 - 2,000 734 6,767 1,786 3,377 3,238 40 49 5 1,103 - 2,000 734 6,767 1,786 3,373 3,231 - 18 - 2,300 500 100 - 3,000 1,095 498 1,338 9 18 - 2,300 500 100 - 3,000 1,095 188 1,344 - - - 500 1,130 478 142 1,300 1,300 739 721 158 - - 500 1,130 548 142 1,300 1,300 717 698 - - - - - - - 100 100 (7) (4) - - - - - - - 1,359 610 250 210 - - - 998 - 1,000 350 3,126 3,126 2,085 1,856 4 - - 998 - 1,000 350 3,126 3,126 2,084 1,856 - - - - - - - 1,357 1,357 191 191 - 20 178 3,580 3,569 1,565 947 4,581 4,581 6,411 7,119 41 - - 3,580 3,569 1,565 947 4,581 4,581 6,397 7,122 - - - - - - - 1,020 1,020 (200) (233) - 58 - 4,200 5,573 - 345 2,474 2,474 6,774 6,771 32 58 - 4,200 5,573 - 345 2,474 2,474 6,732 6,748 - 2,865 2,739 2,643 3,431 - - 2,910 1,693 6,788 3,989 517 - 108 2,643 3,431 - - 2,910 1,693 6,287 3,428 - - 4,366 1,733 - - - 6,336 5,657 120 11,991 10,553 - - 9,429 11,596 - 11,858 11,043 9,429 11,596 - 982 882 - - - 5,137 4,541 1,244 1,509 - 4,581 4,539 1,244 1,509 - 1,320 1,042 - - - 1,320 1,042 - - 773 34,298 19,288 15,521 16,781 - 29,497 17,017 12,246 14,813 - 878 824 - - - 878 824 - - 39 10,184 5,063 2,963 3,613 - 10,140 - 3,507 - 3,188 155 2,197 5,017 2,433 2,439 2,177 2,963 277 277 707 3,613 - 725 - 2,017 1,998 707 725 - 93 96 - - - 1,609 820 175 1 - 5,215 4,982 1,965 2,452 - 5,210 4,982 1,965 2,452 - 1,548 1,548 928 1,013 41 11,033 11,741 4,209 4,874 - 10,978 11,703 4,209 4,874 - 820 787 - 29 9,280 9,274 5,519 - 9,206 9,222 5,519 7,863 7,863 498 10,215 6,180 3,729 4,616 - 9,197 5,122 3,729 4,616 N/A N/A 554 3,123 484 3,164 3,006 3,036 170 156 N/A N/A 546 486 131 106 131 106 5,635 4,484 4,623 3,608 137 124 137 124 N/A N/A 1,379 1,245 2,150 1,816 1,213 938 1,556 875 N/A N/A 15 916 1,639 23 467 1,475 1,639 1,475 685 1,322 2,310 2,084 2,122 1,908 217 222 1,591 1,517 1,428 1,341 N/A N/A 1,619 1,487 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
88. 85 Mainland China Securities Survey 2017 Financial highlights: balance sheet 财务摘要:资产负债表 RMB million 人民币(百万元) Number of branches 营业部数目 Total assets 资产合计 Client monies held in segregated accounts 客户资金存款 Trading and derivatives financial assets 交易性及衍生金 融资产 Available-forsale and heldto-maturity finacial assets 可供出售及持 有至到期金融 资产 Long-term investments 长期股权投资 93a Northeast Securities (consol. level)* 93b Northeast Securities (company level)* 94 N-Securities 东北证券(合并)* 东北证券(母公司)* 网信证券 2016 2015 2016 2015 2016 2015 2016 2015 2016 - - 75,157 74,006 12,331 15,790 15,948 21,318 17,489 98 85 70,599 71,856 11,283 15,300 15,048 20,108 13,254 41 27 1,547 1,744 701 953 103 92 25 2015 9,606 7,337 10 2016 2015 430 432 3,556 3,255 - - 95a Orient Securities (consol. level)* 东方证券(合并)* - 95b Orient Securities (company level)* 东方证券(母公司)* 122 96 Orient Securities Asset Management Co., Ltd. 上海东方证券资产 管理 - 97a Pacific Securities (consol. level)* 太平洋证券(合并)* - 97b Pacific Securities (company level)* 太平洋证券 (母公司)* 68 98a Ping An Securities (consol. level) 平安证券(合并) - 98b Ping An Securities (company level) 平安证券(母公司) 22 99 Qilu Securities (Shanghai) Asset 齐鲁证券(上海) Management Co., Ltd. 资产管理有限公司 - 100a Sealand Securities (consol. level)* 国海证券(合并)* - 100b Sealand Securities (company level)* 国海证券(母公司)* 111 101 Shanghai Haitong Securities Asset Management Co., Ltd. 上海海通证券资 产管理 - 102a Shanghai Securities (consol. level) 上海证券(合并) - 102b Shanghai Securities (company level) 上海证券(母公司) 66 103a Shanxi Securities (consol. level)* 山西证券(合并)* - 103b Shanxi Securities (company level)* 山西证券(母公司)* 78 104 Shenwan Hongyuan Financing Services Co. 申万宏源证券承 销保荐 - 105a Shenwan Hongyuan Securities (consol. level) 申万宏源证券 (合并) - 105b Shenwan Hongyuan Securities (company level) 申万宏源证券 (母公司) 302 106 Shenwan Hongyuan Securities (Western) 申万宏源西部证券 48 107a SINOLINK Securities (consol. level)* 国金证券(合并)* - 107b SINOLINK Securities (company level)* 国金证券(母公司)* 46 108a SooChow Securities (consol. level)* 东吴证券(合并)* - 108b SooChow Securities (company level)* 东吴证券(母公司)* 121 109a Southwest Securities (consol. level)* 西南证券(合并)* - 109b Southwest Securities (company level)* 西南证券 (母公司)* 119 110a Tebon Securities (consol. level) 德邦证券(合并) - 110b Tebon Securities (company level) 德邦证券(母公司) 22 111a Tianfeng Securities (consol. level) 天风证券(合并) - 111b Tianfeng Securities (company level) 天风证券(母公司) 60 - 212,411 207,898 29,202 37,590 23,400 31,948 77,474 61,091 3,515 1,909 120 183,873 180,594 19,683 23,322 16,962 28,169 71,385 56,466 9,746 7,439 - 1,479 1,201 - - 359 202 263 417 - - - 40,365 34,092 3,437 4,693 7,807 6,981 5,196 2,825 68 28 65 38,071 31,774 3,437 4,693 5,920 5,529 4,172 2,736 1,528 528 - 90,950 93,773 19,100 29,418 4,103 4,591 30,713 26,193 50 47 28 86,721 89,370 17,957 28,265 3,662 3,408 27,869 23,833 2,188 2,092 - 660 447 - - - - 465 300 - - - 67,961 52,520 8,798 13,527 8,203 8,588 20,866 5,727 139 138 85 63,029 47,831 7,318 12,295 6,591 6,720 19,691 4,269 1,630 1,630 - 4,714 3,994 - - - 83 1,733 2,004 - - - 31,434 37,999 9,103 13,408 5,701 6,158 4,482 3,510 - - 56 27,755 35,250 8,963 13,258 2,107 3,742 5,026 3,901 187 630 - 48,058 48,181 8,704 9,317 10,852 2,024 4,006 5,270 - - 78 43,225 39,819 6,568 7,001 10,458 426 3,147 4,036 3,233 2,531 - 2,117 1,484 - - 855 917 66 200 - - - 263,148 322,509 71,737 112,888 34,720 57,476 34,255 28,039 924 732 308 212,848 276,793 54,155 89,769 22,412 37,700 34,553 26,800 5,845 8,470 47 12,871 23,238 5,411 9,325 - - - - - - - 47,961 56,352 13,191 17,256 6,319 5,969 5,071 4,685 707 750 47 43,382 50,645 11,232 15,117 6,039 5,486 4,397 4,161 1,934 1,901 - 89,477 80,589 15,628 19,694 21,777 14,223 13,774 14,384 496 122 101 69,106 70,523 13,934 18,600 11,500 10,938 12,332 13,216 3,627 2,863 - 71,000 71,749 11,178 16,870 21,540 16,377 11,732 10,463 1,622 1,655 119 60,787 63,817 10,579 16,463 14,441 13,765 9,569 9,466 5,623 4,627 - 12,225 13,076 2,692 3,641 1,408 2,733 1,184 494 - - 21 11,394 12,228 2,517 3,526 1,223 2,608 862 225 410 410 - 56,611 38,512 4,023 2,763 14,812 8,742 9,627 7,571 1,161 1,145 34 37,886 32,072 3,311 2,321 10,180 7,623 4,328 4,406 2,024 1,892 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
89. 二零一七年中国证券业调查报告 86 Trading and derivatives financial liabilities Short-term, long-term loans and debts issued 交易性及衍生金 短期、长期借款 融负债 及应付债券 (不包括应付短 期融资券) 2016 2015 2016 2015 Short-term financing bonds payable 应付短期融资券 Paid-in capital/ Share capital 实收资本/股本 Reserves 储备 2016 2015 2016 2015 2016 2015 Noncontrolling interests 少数股东权益 2016 2015 Net assets 净资产合计 2016 2015 Balance of Number of margin trading employees 融出资金 员工人数 2016 2015 2016 2015 5 - 4,719 3,711 10,586 6,634 2,340 1,957 13,248 9,434 1,013 437 16,601 11,828 7,712 10,466 3,442 2,995 5 - 4,719 3,711 9,852 6,634 2,340 1,957 12,500 9,021 - - 14,840 10,978 7,712 10,466 - - - - - - 500 500 153 151 - - 653 651 - - 7,890 3,329 65,924 52,732 4,943 8,396 6,215 5,282 34,267 29,676 455 418 40,938 35,376 10,652 14,241 7,476 2,573 59,547 46,586 2,713 7,799 6,215 5,282 32,315 28,593 - - 38,531 33,875 10,291 13,532 2,981 2,618 588 4,171 438 3,698 3,037 2,707 - - - - - - 300 300 704 369 - - 1,004 669 - - N/A 151 1,205 2,457 11,746 8,442 4,140 3,070 6,816 3,530 5,001 3,872 777 571 12,594 7,974 2,224 2,999 1,714 1,394 92 850 11,746 8,442 4,140 3,070 6,816 3,530 4,945 3,856 - - 11,761 7,386 2,224 2,999 1,660 1,375 3,798 214 5,544 3,680 3,154 600 13,800 8,574 11,544 14,856 305 126 25,648 23,555 7,125 9,675 3,592 3,357 3,384 214 5,500 3,598 3,154 600 13,800 8,574 10,493 14,107 - - 24,293 22,681 7,099 9,654 N/A N/A - - - - - - 167 167 123 26 - - 290 193 - - N/A N/A 245 24 7,990 9,783 3,225 - 4,216 2,810 9,542 10,448 576 561 14,334 13,819 6,708 9,207 2,535 2,261 245 24 7,990 9,783 3,240 - 4,216 2,810 9,271 10,071 - - 13,487 12,881 6,708 9,207 1,996 1,762 - - 1,000 1,000 - - 2,200 1,200 1,164 1,081 - - 3,364 2,281 - - N/A N/A - - 5,256 6,254 - 1,299 2,610 2,610 7,445 3,548 - - 10,055 6,158 6,506 7,375 1,381 1,429 - - 5,256 6,254 - 1,299 2,610 2,610 7,460 3,625 - - 10,070 6,235 6,506 7,375 1,303 1,260 220 - 1,698 6,989 4,807 3,509 2,829 2,519 9,449 10,067 752 635 13,030 13,221 5,380 6,848 2,218 2,156 220 - 1,697 6,982 4,807 3,509 2,829 2,519 9,169 9,909 - - 11,998 12,428 5,175 6,848 1,507 N/A - - - - - - 1,000 1,000 433 135 - - 1,433 1,135 - - 400 399 1,074 31 57,059 26,829 3,212 24,357 33,000 33,000 18,065 17,359 1,764 1,631 52,829 51,990 55,869 71,419 13,388 14,716 1,071 31 53,906 26,188 3,212 24,357 33,000 33,000 13,459 13,790 - - 46,459 46,790 48,850 61,735 10,691 11,607 - - 2,500 - - - 1,200 1,200 2,446 1,781 - - 3,646 2,981 5,415 7,973 902 988 2,676 3,012 3,049 4,460 - - 3,024 3,024 14,473 13,454 57 37 17,554 16,515 6,480 8,001 3,240 3,003 993 961 3,000 4,460 - - 3,024 3,024 14,336 13,316 - - 17,360 16,340 6,382 7,954 2,848 2,623 - 6 17,659 16,561 3,880 4,567 3,000 2,700 17,227 13,840 262 212 20,489 16,752 8,619 10,875 2,663 2,336 - 4 17,478 16,467 3,200 4,000 3,000 2,700 16,794 13,539 - - 19,794 16,239 8,619 10,875 2,249 1,947 5,670 3,937 13,448 12,715 7,368 1,300 5,645 5,645 13,356 13,373 667 572 19,668 19,590 8,042 10,109 3,311 3,412 20 79 11,963 11,246 7,368 1,300 5,645 5,645 12,898 12,883 - - 18,543 18,528 7,826 9,406 2,949 3,048 - - 2,769 1,200 - 1,000 2,300 2,300 1,774 1,688 282 270 4,356 4,258 1,145 1,585 1,258 1,178 - - 2,750 1,200 - 1,000 2,300 2,300 1,649 1,598 - - 3,949 3,898 1,145 1,585 970 911 703 - 10,545 5,736 820 1,940 4,662 4,662 6,063 4,523 12,756 3,789 23,481 12,974 1,626 1,620 2,752 1,922 699 - 10,545 5,736 420 1,940 4,662 4,662 4,835 4,388 - - 9,497 9,050 1,626 1,620 2,222 1,504 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
90. 87 Mainland China Securities Survey 2017 Financial highlights: balance sheet 财务摘要:资产负债表 RMB million 人民币(百万元) Number of branches 营业部数目 Total assets 资产合计 Client monies held in segregated accounts 客户资金存款 Trading and derivatives financial assets 交易性及衍生金 融资产 Available-forsale and heldto-maturity finacial assets 可供出售及持 有至到期金融 资产 Long-term investments 长期股权投资 112a UBS Securities (consol. level) # 瑞银证券(合并)# 112b UBS Securities (company level) # 瑞银证券 (母公司)# 113a Vanho Securities 万和证券(合并) 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 - - 2,565 3,731 221 408 241 2,071 - - - - 4 5 2,549 3,710 238 408 241 2,071 - - 142 137 - - 6,970 5,544 1,275 1,240 2,911 1,985 1,267 701 - - 113b Vanho Securities 万和证券(母公司) 29 19 6,943 5,544 1,273 1,240 2,894 1,985 1,271 701 - - 114a Wanlian Securities (consol. level) 万联证券(合并) - - 22,134 27,330 5,647 7,010 901 696 6,028 7,752 33 - 114b Wanlian Securities (company level) 万联证券(母公司) 55 45 22,132 27,330 5,647 7,010 901 696 5,895 7,602 200 200 115a Western Securities (consol. level)* 西部证券(合并)* - - 54,184 58,236 11,053 16,001 15,291 9,259 6,144 6,242 62 38 115b Western Securities (company level)* 西部证券(母公司)* 86 82 48,233 52,174 8,754 11,958 12,680 8,303 6,160 5,973 809 584 116a Xiangcai Securities (consol. level) 湘财证券(合并) - - 25,427 40,870 9,324 13,385 700 3,009 2,263 1,974 - - 116b Xiangcai Securities (company level) 湘财证券(母公司) 53 53 25,474 40,317 9,334 13,391 699 3,009 2,029 1,101 100 100 117a Xizang Eastmoney Securities (consol. level) 西藏东方财富 (合并) - - 17,773 12,389 6,872 6,597 1,166 1,711 22 23 - - 117b Xizang Eastmoney Securities (company level) 西藏东方财富 (母公司) 42 32 16,867 11,261 6,303 5,847 1,156 1,711 - - 214 183 118a Yingda Securities (consol. level) 英大证券(合并) - - 16,756 17,551 4,514 5,146 1,349 944 2,857 4,468 - - 118b Yingda Securities (company level) 英大证券(母公司) 25 19 14,045 15,621 3,336 4,549 991 641 2,833 4,440 519 519 119a Yintai Securities (consol. level) 银泰证券(合并) - - 6,780 7,831 2,223 2,915 1,274 939 493 362 159 147 119b Yintai Securities (company level) 银泰证券(母公司) 47 120 Zhejiang Zheshang Securities Asset Management Co., Ltd. 浙江浙商证券资 产管理 - 121a Zheshang Securities (consol. level)* 浙商证券(合并)* - 121b Zheshang Securities (company level)* 浙商证券(母公司)* 90 122 Zhongde Securities # 中德证券# - 123a Zhongshan Securities (consol. level) 中山证券(合并) - 123b Zhongshan Securities (company level) 中山证券(母公司) 51 124a Zhongtai Securities (consol. level) 中泰证券(合并) - 124b Zhongtai Securities (company level) 中泰证券(母公司) 240 125a Zhongtian Securities (consol. level) 中天证券 (合并) - 125b Zhongtian Securities (company level) 中天证券 (母公司) 62 126 Dongzheng Ronghui Securities Asset Management 东证融汇证券资管 - 127 Shenggang Securities Company Limited# 申港证券# 1 128 China Renaissance Securities (China) Co., Ltd.# 华菁证券# - Bohai Huijin Securities Asset 129a Management Co., Ltd. (consol. 渤海汇金资管(合并) - level) Bohai Huijin Securities Asset 129b Management Co., Ltd. (company level) 渤海汇金资管(母 公司) - 37 6,722 7,749 2,223 2,915 1,274 939 410 352 200 200 - 3,345 1,125 - - 215 75 537 388 - - - 53,737 55,490 15,875 23,272 8,065 3,684 3,134 2,649 109 42 92 46,370 49,638 12,059 20,075 7,809 3,601 2,175 1,873 1,237 1,166 - 1,543 1,427 - - - - - - - - - 21,787 16,382 3,430 4,485 10,023 3,490 150 184 95 102 21 15,043 15,263 2,989 4,154 4,568 3,450 344 132 190 214 - 123,026 136,015 32,110 34,785 20,776 21,786 19,957 16,330 576 493 233 106,614 125,407 27,614 31,477 19,005 20,286 15,804 14,368 5,116 4,429 - 10,717 10,895 2,788 3,676 3,836 3,121 79 39 - - 46 10,326 10,324 2,618 3,556 3,759 2,893 95 147 232 152 - 928 500 - - 251 - 487 - - - - 3,519 - - - 926 - 1,300 - - - - 1,001 - - - - - - - - - - 1,483 - - - 1,116 - 36 - - - - 244 - - - 80 - 72 - - - Total (consol.) 合计(合并) 7,062,713 7,413,208 1,398,816 1,900,457 1,336,014 1,350,230 1,024,858 905,471 60,391 40,810 Total (company) 合计(母公司) 5,792,670 6,418,442 1,148,708 1,666,440 877,241 968,847 865,331 798,573 266,741 225,789 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
91. 二零一七年中国证券业调查报告 88 Trading and derivatives financial liabilities Short-term, long-term loans and debts issued 交易性及衍生金 短期、长期借款 融负债 及应付债券 (不包括应付短 期融资券) Short-term financing bonds payable 应付短期融资券 Paid-in capital/ Share capital 实收资本/股本 Reserves 储备 Noncontrolling interests 少数股东权益 Net assets 净资产合计 Balance of Number of margin trading employees 融出资金 员工人数 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 10 1 - 200 - - 1,490 1,490 428 396 - 6 1,918 1,892 - - 389 346 10 1 - 200 - - 1,490 1,490 419 390 - - 1,909 1,880 - - 364 322 - - - - 70 - 1,000 1,000 580 559 - - 1,580 1,559 303 199 N/A N/A - - - - 70 - 1,000 1,000 580 559 - - 1,580 1,559 303 199 576 N/A 4 - 1,350 1,648 1,050 - 4,680 4,288 2,524 2,877 - - 7,204 7,165 3,685 4,109 1,842 1,760 4 - 1,350 1,648 1,050 - 4,680 4,288 2,523 2,877 - - 7,203 7,165 3,685 4,109 N/A N/A 2,560 1,568 3,972 3,962 5,310 4,430 2,796 2,796 9,612 9,343 68 55 12,476 12,194 5,387 7,395 2,770 2,420 144 13 3,972 3,962 5,310 4,430 2,796 2,796 9,616 9,350 - - 12,411 12,146 5,387 7,395 2,476 2,180 - - 3,436 2,157 - 33 3,197 3,197 2,725 2,391 - 333 5,923 5,921 6,094 6,284 1,537 1,721 - - 3,436 2,157 - 33 3,197 3,197 2,765 2,221 - - 5,962 5,418 6,094 6,284 N/A N/A 2 - 300 500 600 200 4,600 600 1,283 911 5 5 5,889 1,516 4,253 1,360 970 N/A 2 - 300 500 600 200 4,600 600 1,287 920 - - 5,887 1,520 4,253 1,360 34 27 1,000 1,000 - 300 2,700 2,700 847 683 162 157 3,709 3,540 2,048 2,596 - - 1,000 1,000 - 300 2,700 2,700 825 677 - - 3,525 3,377 2,048 2,596 - - - - 50 700 1,400 1,400 1,451 1,339 - - 2,851 2,739 1,451 1,716 - - - - 50 700 1,400 1,400 1,398 1,304 - - 2,798 2,704 1,451 1,716 - - - - - - 500 500 552 305 - - 1,052 805 - - 970 1,259 853 623 615 478 531 494 518 483 136 113 294 4 9,700 9,900 3,328 1,616 3,000 3,000 6,565 5,444 - 5 9,565 8,449 7,910 10,551 3,175 3,025 196 - 1,023 4 9,700 9,900 3,328 1,616 3,000 3,000 5,187 4,500 - - - - - 1,000 1,000 234 156 59 1,500 1,500 543 400 1,355 1,355 2,509 2,158 - - 8,187 7,500 7,910 10,551 - - 1,234 1,156 - - 112 144 3,976 3,657 2,128 2,288 N/A N/A 258 236 1,251 1,195 21 - 1,500 1,500 543 400 1,355 1,355 2,492 2,128 - - 3,847 3,483 2,128 2,288 1,086 1,037 575 759 20,038 17,977 2,265 6,212 6,272 6,272 25,289 25,078 1,239 837 32,800 32,187 24,978 30,789 6,990 6,545 7 341 18,292 16,300 2,265 6,212 6,272 6,272 24,261 24,238 - - 30,532 30,510 23,342 29,803 6,075 5,837 - - 1,120 1,119 - 499 2,225 1,119 1,720 1,071 - - 3,945 2,190 979 1,112 958 773 - - 1,120 1,119 - 499 2,225 1,119 1,759 1,106 - - 3,984 2,224 979 1,112 812 673 - - - - - - 700 500 84 - - - 784 500 - - 78 - - - - - - - 3,500 - (33) - - - 3,467 - - - 131 - - - - - - - 1,000 - (50) - - - 950 - - - 150 - 1,059 - - - - - 200 - 14 - - - 214 - - - 94 - - - - - - - 200 - 14 - - - 214 - - - 94 - 230,376 159,457 1,285,426 1,144,297 262,763 265,452 434,938 365,529 1,266,295 1,135,586 63,657 41,345 1,734,215 1,515,674 1,001,120 1,218,098 81,352 49,997 1,085,824 1,004,841 254,931 263,535 434,938 365,529 1,210,365 1,087,269 - - 1,645,720 1,452,798 938,763 1,169,689 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
92. 89 Mainland China Securities Survey 2017 Financial highlights: key ratios 财务摘要:主要财务比率 RMB million 人民币(百万元) Performance measures 绩效指标 Return on Equity (ROE) (Net profit after tax/ Average Shareholder’s equity) 权益回报率 (净利润/平均 所有者权益) Cost/income ratio (Operating expenses/ Operating income) 成本对收入比率 (营业支出/营 业收入) Net brokerage commission income/ Operating income 经纪业务手续 费净收入/营业 收入 Income components 收入组成 Net investment banking commission income/ Operating income 投资银行业务手 续费净收入/营 业收入 Net asset management income/ Operating income 资产管理业务手 续费净收入/营 业收入 Investment income/ Operating income 投资收益/营业 收入 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 1a Aijian Securities (consol. level) 爱建证券 (合并) 3% 12% 92% 63% 35% 68% 32% 11% 4% 1% 35% 1% 1b Aijian Securities (company level) 爱建证券 (母公司) 3% 12% 93% 63% 35% 68% 33% 11% 5% 1% 11% 1% 2a AVIC Securities Co., Ltd. (consol. level) 中航证券 (合并) 10% 29% 50% 39% 37% 52% 20% 15% 1% 1% 14% 12% 2b AVIC Securities Co., Ltd. (company level) 中航证券 (母公司) 10% 29% 49% 39% 37% 52% 20% 15% 1% 1% 14% 12% 3a Beijing Gao Hua Securities (consol. level) 北京高华证券 (合并) 2% 19% 90% 55% 17% 20% 18% 20% 1% 6% 3% 31% 3b Beijing Gao Hua Securities (company level) 北京高华证券 (母公司) 2% 23% 86% 43% 31% 28% 0% 0% 2% 8% 5% 44% 4a BOC International (China) Limited 中银国际证券 (consol. level)# (合并)# 4b BOC International (China) Limited 中银国际证券 (company level) # (母公司)# 10% 23% 54% 44% 30% 47% 21% 9% 22% 57% 45% 33% 49% 23% 8% 21% 11% 20% 21% 8% 23% 12% 15% 19% 5a Bohai Securities (consol. level) 渤海证券(合并) 5% 14% 49% 48% 25% 42% 12% 3% 5% 3% 94% 62% 5b Bohai Securities (company level) 渤海证券(母 公司) 5% 13% 48% 49% 26% 43% 12% 3% 5% 5% 88% 48% 6a Caida Securities (consol. level) 财达证券(合并) 8% 27% 52% 31% 48% 64% 4% 2% 0% 1% 32% 17% 6b Caida Securities (company level) 财达证券(母 公司) 8% 27% 53% 30% 50% 65% 5% 2% 1% 1% 20% 15% 7a Caitong Securities (consol. level) 财通证券(合并) 13% 22% 50% 62% 27% 25% 11% 5% 18% 5% 41% 15% 7b Caitong Securities (company level) 财通证券 (母公司) 10% 21% 47% 45% 37% 52% 15% 10% 0% 0% 42% 19% 8 Caitong Securities Asset Management Co., Ltd. 财通证券资产 管理 38% 52% 74% 66% 0% 0% 0% 0% 98% 99% 1% 0% 9a Capital Securities (consol. level) 首创证券(合并) 12% 24% 55% 43% 23% 37% 11% 8% 4% 1% 76% 52% 9b Capital Securities (company level) 首创证券 (母公司) 12% 24% 54% 41% 23% 37% 12% 9% 3% 1% 77% 52% 10a CEFC Shanghai Securites Limited (consol. level) 华信证券(合并) 5% 9% 55% 69% 2% 11% 56% 44% 1% 0% 39% 41% 10b CEFC Shanghai Securites Limited 华信证券 (company level) (母公司) 11a Central China Securities (consol. level)* 中原证券(合并)* 2% 10% 87% 68% 3% 11% 83% 44% 2% 0% 9% 41% 7% 19% 53% 52% 35% 53% 15% 5% 3% 1% 24% 15% 11b Central China Securities (company level)* 中原证券 (母公司)* 7% 20% 52% 52% 43% 56% 16% 5% 4% 2% 21% 14% 12a Century Securities (consol. level) 世纪证券(合并) 0% 37% 104% 46% 78% 67% 9% 1% 1% 0% 5% 13% 12b Century Securities (company level) 世纪证券(母 公司) 1% 37% 103% 45% 80% 69% 9% 1% 1% 1% 4% 11% 13 Changjiang Financing Services Co. 14a Changjiang Securities (consol. level)* 14b Changjiang Securities (company level)* 长江证券承销 保荐 长江证券(合并)* 长江证券(母公司)* 31% 10% 9% 51% 23% 22% 77% 54% 53% 76% 48% 46% 0% 36% 43% 0% 56% 60% 94% 12% 8% 99% 6% 2% 0% 11% 0% 0% 6% 1% 4% 20% 19% 1% 26% 22% 15 Changjiang Securities Asset Management Co., Ltd. 16a China Development Bank Securities (consol. level) 16b China Development Bank Securities (company level) 长江证券(上海) 资产管理 国开证券(合并) 73% 6% 52% 10% 30% 45% 29% 35% 国开证券(母公司) 8% 8% 35% 40% 0% 0% 0% 0% 93% 101% 6% -2% 5% 13% 26% 17% 13% 6% 102% 86% 4% 16% 22% 20% 9% 6% 73% 64% * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
93. 二零一七年中国证券业调查报告 90 Growth/Reduction in net brokerage commission income 经纪业务手续费净收入 增长率 Growth/Reduction in net investment banking commission income 投资银行业务手续费净 收入增长率 Growth/Reduction in net asset management income 资产管理业务手续费净 收入增长率 Growth rate 增长率 Growth/Reduction in investment income 投资收益增长率 Growth/Reduction in net profit before tax 税前利润增长率 Growth in net profit after tax 净利润增 长率 Debt to equity ratio 负债权益比率 2016 -60% -60% -68% -68% -50% -50% -63% -63% -63% -64% -65% -65% -55% -53% -59% -60% -32% -32% -66% -67% -61% -61% -55% -58% -69% -69% 2015 143% 143% 132% 134% 157% 158% 149% 157% 139% 140% 143% 143% 183% 180% 153% 161% 48% 49% 168% 166% 145% 144% 128% 139% 142% 2016 125% 125% -41% -41% -48% 58% 58% 163% 161% 9% 9% 3% 3% -9% -9% 344% 300% 45% 28% 158% 158% -9% 32% 135% 41% 41% 2015 295% 295% 92% 93% 119% 32% 32% -32% -32% 106% 106% 80% 80% 221% 221% 68% 68% 108% 105% 373% 373% 92% 35% -23% -38% 2016 240% 340% -45% -45% -87% -87% 8% 7% -5% -44% -70% -40% 51% 35% 150% 119% 19% 10% 0% -60% 91% -100% 133% 103% 97% 2015 111% 111% 72% 72% 210% 203% 176% 179% 187% 78% 79% 54% 139% -100% -46% -47% 483% 218% -57% 24% 109% -66% 147% 2016 1738% 475% -46% -48% -95% -95% -45% -56% -8% 12% -12% -37% 16% 46% 300% -1% -3% 229% -51% -20% -36% -88% -87% 950% -28% -30% -900% 5% 45% 2015 -89% -89% 69% 74% 93% 94% 61% 40% 75% 79% 2% 6% 142% 208% 201% 204% 1373% 1361% 59% 55% 392% 318% 62% 74% 50% 2016 -76% -77% -62% -62% -87% -89% -48% -52% -40% -37% -68% -69% -49% -43% 7% -46% -48% 365% 11% -48% -55% -99% -98% -9% -38% -47% 149% -24% 37% 2015 55% 55% 189% 197% 90% 124% 114% 107% 92% 91% 147% 155% 181% 208% 153% 161% 1483% 1523% 151% 143% 327% 336% 1590% 101% 95% - 22% 2016 -76% -78% -63% -63% -87% -89% -49% -53% -40% -36% -68% -69% -46% -41% 13% -40% -43% 398% 39% -47% -55% -99% -98% -8% -37% -45% 160% -23% 37% 2016 564% 353% 265% 264% 86% 54% 326% 288% 158% 152% 285% 249% 257% 259% 104% 421% 409% 23% 21% 250% 247% 443% 435% 51% 316% 309% 50% 193% 150% 2015 551% 373% 314% 313% 204% 110% 425% 382% 216% 200% 353% 315% 401% 400% 99% 551% 541% 69% 69% 369% 374% 548% 531% 87% 485% 486% 13% 334% 231% * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
94. 91 Mainland China Securities Survey 2017 Financial highlights: Key ratios 财务摘要:主要财务比率 RMB million 人民币(百万元) Performance measures 绩效指标 Income components 收入组成 Return on Equity (ROE) (Net profit after tax/ Average Shareholder’s equity) 权益回报率 (净利润/平均 所有者权益) Cost/income ratio (Operating expenses/ Operating income) 成本对收入比率 (营业支出/营 业收入) Net brokerage commission income/ Operating income 经纪业务手续 费净收入/营业 收入 Net investment banking commission income/ Operating income 投资银行业务手 续费净收入/营 业收入 Net asset management income/ Operating income 资产管理业务手 续费净收入/营 业收入 Investment income/ Operating income 投资收益/营业 收入 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 17a China Dragon Securities (consol. level) 华龙证券(合并) 5% 25% 58% 47% 38% 59% 19% 12% 2% 2% 21% 20% 17b China Dragon Securities (company level) 华龙证券(母公司) 5% 27% 58% 45% 39% 57% 20% 12% 4% 4% 25% 19% 18a China Fortune Securities (consol. level) 华鑫证券(合并) 8% 16% 77% 70% 31% 49% 35% 24% 7% 2% 11% 11% 18b China Fortune Securities (company level) 华鑫证券(母公司) 7% 15% 65% 59% 47% 65% 3% 1% 12% 3% 16% 13% 19a China Galaxy Securities (consol. level)* 中国银河证券 (合并)* 9% 23% 51% 50% 43% 58% 8% 3% 3% 2% 30% 18% 19b China Galaxy Securities (company 中国银河证券 level)* (母公司)* 8% 22% 50% 49% 51% 62% 8% 3% 0% 0% 30% 19% 20a China International Capital Corporation (consol. level) *# 中国国际金融 (合并)*# 11% 16% 69% 68% 21% 30% 45% 33% 6% 7% 29% 24% 20b China International Capital Corporation (company level) *# 中国国际金融 (母公司)*# 6% 13% 74% 66% 24% 34% 47% 28% 7% 7% 30% 25% 21a China Investment Securities (consol. level) 中国中投证券 (合并) 8% 30% 63% 44% 51% 69% 13% 6% 4% 2% 10% 4% 21b China Investment Securities (company level) 中国中投证券 (母公司) 9% 31% 60% 43% 53% 70% 14% 6% 5% 2% 8% 4% 22a China Merchants Securities (consol. level)* 招商证券(合并)* 10% 24% 45% 46% 40% 49% 18% 10% 10% 5% 31% 25% 22b China Merchants Securities (company level)* 招商证券(母公司)* 9% 23% 44% 46% 45% 51% 21% 10% 0% 1% 32% 26% 23 China Merchants Securities Asset Management Co., Ltd 招商证券资产 管理 45% 58% 25% 27% 0% 0% 0% 0% 97% 99% 2% 0% 24a China Minzu Securities (consol. level) 中国民族证券 (合并) 5% 8% 66% 72% 42% 62% 20% 7% 4% 3% 11% 12% 24b China Minzu Securities (company 中国民族证券 level) (母公司) 5% 8% 66% 72% 42% 62% 20% 7% 4% 3% 11% 11% 25a China Post Securities (consol. level) 中邮证券(合并) 3% 8% 61% 46% 26% 42% 3% 0% 36% 8% 11% 28% 25b China Post Securities (company level) 中邮证券(母公司) 4% 9% 58% 44% 25% 40% 3% 0% 34% 8% 15% 28% 26a China Securities (consol. level)* 中信建投证券 (合并)* 15% 37% 47% 40% 29% 46% 31% 16% 5% 3% 22% 21% 26b China Securities (company level)* 中信建投证券 (母公司)* 15% 36% 46% 39% 30% 48% 33% 17% 7% 4% 19% 19% 27a Chinalin Securities (consol. level) 华林证券(合并) 20% 36% 48% 41% 22% 48% 29% 28% 7% 1% 28% 6% 27b Chinalin Securities (company level) 华林证券(母公司) 19% 36% 49% 41% 22% 49% 30% 28% 7% 1% 27% 7% 28 Chuancai Securities 川财证券 5% 28% 80% 34% 22% 32% 41% 17% 5% 2% 49% 22% 29a Cinda Securities (consol. level) 信达证券(合并) 5% 26% 79% 47% 46% 48% 11% 8% 13% 8% 33% 31% 29b Cinda Securities (company level) 信达证券(母公司) 6% 27% 73% 43% 46% 50% 11% 9% 13% 12% 21% 24% 30 Citi Orient Securities # 东方花旗证券 # 26% 16% 73% 82% 0% 0% 95% 94% 0% 0% 3% 3% 31a CITIC Securities (consol. level)* 中信证券(合并)* 8% 17% 63% 51% 25% 33% 14% 8% 17% 11% 26% 34% 31b CITIC Securities (company level)* 中信证券(母公司)* 32a CITIC Securities (Shandong) (consol. level) 32b CITIC Securities (Shandong) (company level) 中信证券(山东) (合并) 中信证券(山东) (母公司) 6% 10% 10% 15% 29% 30% 52% 60% 61% 40% 45% 43% 28% 56% 57% 28% 75% 76% 25% 0% 0% 11% 0% 0% 11% 0% 0% 5% 27% 46% 0% 5% 1% 0% 5% 1% * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
95. 二零一七年中国证券业调查报告 92 Growth/Reduction in net brokerage commission income 经纪业务手续费净收入 增长率 Growth/Reduction in net investment banking commission income 投资银行业务手续费净 收入增长率 Growth/Reduction in net asset management income 资产管理业务手续费净 收入增长率 Growth rate 增长率 Growth/Reduction in investment income 投资收益增长率 Growth/Reduction in net profit before tax 税前利润增长率 Growth in net profit after tax 净利润增 长率 Debt to equity ratio 负债权益比率 2016 -64% -65% -58% -58% -62% -61% -39% -43% -63% -63% -62% -64% -67% -67% -63% -63% -56% -58% -65% -65% -55% -58% -61% -48% -44% -60% -60% 2015 160% 162% 135% 165% 184% 184% 90% 118% 133% 137% 185% 193% 120% 120% 169% 169% 146% 150% 140% 140% 116% 142% 158% 108% 202% 154% 153% 2016 -13% -12% -3% 5% 36% 36% 23% 35% 5% 6% -16% -13% 36% 36% 36% 38% -18% -18% 57% -45% -46% 65% 20% 31% - 2015 58% 61% 49% 198% -28% -28% 40% 81% 274% 279% 89% 113% 118% 118% 77% 83% 115% 115% 756% 7% 4% 79% 29% 34% - 2016 -65% -52% 145% 149% 1% -16% -19% 14% 30% 0% -100% 38% -30% -31% 146% 146% 12% 29% 579% 579% 50% -29% -52% 4% 20% - 2015 85% 160% -20% -21% 139% -100% 79% 42% 72% 73% 167% -19% 43% 36% 187% 187% 97% 97% 178% 178% 55% 55% 78% 42% 115% - 2016 -43% 2015 9% -31% 22% -32% 169% -29% 222% -15% 356% -24% 357% 11% 94% -2% 48% 15% 163% -7% 427% -43% 263% -49% 192% - - -57% -21% -54% -24% -78% 35% -67% 39% -28% 154% -33% 136% 255% 213% 3,206% 3,474% 45% -54% -63% 117% -47% -66% 38% 103% 91% -1,025% 82% 167% 115% 180% 133% 172% 2016 -56% -61% -44% -49% -50% -54% -11% -34% -66% -67% -53% -57% 46% -39% -39% -57% -56% -38% -38% -28% -30% -79% -83% -80% 130% -48% -52% -59% -61% 2015 115% 147% 244% 283% 163% 162% 74% 147% 190% 199% 174% 166% 6% 6% 136% 157% 152% 149% 281% 282% 275% 128% 134% 218% 77% 134% 142% 149% 2016 -55% -61% -45% -49% -48% -51% -6% -33% -67% -66% -50% -55% 46% -39% -39% -57% -55% -39% -38% -24% -26% -79% -79% -75% 103% -46% -50% -58% -61% 2016 145% 132% 353% 328% 321% 281% 451% 308% 441% 410% 306% 282% 14% 177% 177% 94% 68% 340% 297% 322% 323% 282% 521% 396% 103% 310% 280% 312% 313% 2015 563% 513% 465% 434% 425% 401% 472% 297% 586% 578% 502% 483% 29% 284% 284% 119% 91% 507% 458% 541% 542% 184% 524% 411% 34% 335% 317% 486% 486% * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
96. 93 Mainland China Securities Survey 2017 Financial highlights: Key ratios 财务摘要:主要财务比率 RMB million 人民币(百万元) Performance measures 绩效指标 Return on Equity (ROE) (Net profit after tax/ Average Shareholder’s equity) 权益回报率 (净利润/平均 所有者权益) Cost/income ratio (Operating expenses/ Operating income) 成本对收入比率 (营业支出/营 业收入) 2016 2015 2016 2015 Net brokerage commission income/ Operating income 经纪业务手续 费净收入/营业 收入 2016 2015 Income components 收入组成 Net investment banking commission income/ Operating income 投资银行业务手 续费净收入/营 业收入 Net asset management income/ Operating income 资产管理业务手 续费净收入/营 业收入 2016 2015 2016 2015 Investment income/ Operating income 投资收益/营业 收入 2016 2015 33 Credit Suisse Founder Securities # 瑞信方正证券# 0% 2% 96% 87% 22% 0% 62% 73% 0% 0% 3% 0% 34a Daton Securities (consol. level) 大通证券(合并) 34b Daton Securities (company level) 大通证券(母公司) 35a Datong Securities Brokerage (consol. level) 大同证券(合并) 35b Datong Securities Brokerage (company level) 36a Dongguan Securities (consol. level) 36b Dongguan Securities (company level) 大同证券(母 公司) 东莞证券(合并) 东莞证券(母公司) 37a Donghai Securities (consol. level) 东海证券(合并) 37b Donghai Securities (company level) 38a Dongxing Securities (consol. level)* 38b Dongxing Securities (company level)* 东海证券(母公司) 东兴证券(合并)* 东兴证券(母公司)* 39a Essence Securities (consol. level) 安信证券(合并) 39b Essence Securities (company level) 安信证券(母公司) 40a Everbright Securities (consol. level)*# 光大证券(合并)*# 40b Everbright Securities (company level)*# 光大证券 (母公司)*# 41 Everbright Securities Asset Management Co., Ltd. 上海光大证券资 产管理 42a First Capital Securities (consol. level) * 第一创业证券 (合并)* 42b First Capital Securities (company level) * 第一创业证券 (母公司)* 43a Fortune Securities (consol. level) 财富证券(合并) 43b Fortune Securities (company level) 44a Founder Securities (consol. level)* 44b Founder Securities (company level)* Galaxy Jinhui Asset 45a management Co., Ltd (consol. level) Galaxy Jinhui Asset 45b management Co., Ltd (company level) 财富证券(母 公司) 方正证券(合并)* 方正证券(母公 司)* 银河金汇证券资 产管理(合并) 银河金汇证券资 产管理(母公司) 46a GF Securities (consol. level)* 广发证券(合并)* 4% 4% 8% 8% 16% 16% 6% 6% 8% 8% 12% 12% 7% 7% 35% 8% 7% 7% 8% 7% 6% 10% 10% 10% 15% 15% 36% 36% 36% 36% 25% 25% 19% 23% 27% 25% 22% 20% 53% 17% 17% 25% 27% 12% 13% 11% 11% 22% 58% 58% 74% 72% 56% 55% 66% 62% 54% 53% 56% 50% 58% 51% 42% 63% 56% 68% 63% 59% 54% 84% 84% 49% 41% 38% 42% 42% 49% 49% 50% 49% 53% 48% 54% 53% 41% 38% 38% 57% 53% 51% 49% 49% 39% 84% 84% 47% 35% 38% 53% 53% 49% 49% 42% 44% 30% 30% 37% 39% 34% 37% 0% 16% 24% 42% 44% 47% 52% 0% 0% 26% 50% 53% 81% 81% 69% 70% 34% 35% 46% 44% 52% 57% 45% 52% 0% 25% 29% 47% 48% 63% 68% 0% 0% 41% 16% 17% 8% 8% 14% 14% 46% 56% 23% 23% 21% 23% 16% 20% 0% 25% 19% 34% 36% 8% 4% 0% 0% 16% 17% 18% 0% 4% 5% 10% 0% 10% 6% 5% 6% 5% 18% 5% 20% 7% 13% 9% 11% 7% 17% 3% 8% 5% 7% 9% 9% 0% 0% 100% 22% 25% 17% 21% 6% 2% 6% 5% 3% 2% 1% 3% 0% 94% 0% 97% 6% 20% 1% 2% 0% 0% 2% 2% 3% 3% 9% 10% 5% 5% 5% 0% 97% 10% 10% 1% 9% 1% 1% 96% 96% 11% 7% 2% 10% 10% 14% 16% 49% 57% 50% 27% 22% 23% 16% 21% -2% 36% 46% 14% -3% 46% 55% 8% 1% 33% 13% 11% 2% 2% 9% 8% 29% 30% 35% 29% 15% 13% 24% 23% 2% 39% 41% 29% 21% 21% 21% 2% 0% 31% 46b GF Securities (company level)* 广发证券(母公司)* 47a GF Securities Asset Management 广发证券资产管 (Guangdong) (consol. Level) 理(广东)(合并) 47b GF Securities Asset Management (Guangdong) (company level) 广发证券资产 管理(广东)(母 公司) 48a Golden Sun Securities (consol. level) 国盛证券(合并) 9% 44% 42% 11% 20% 52% 52% 21% 47% 35% 36% 37% 46% 33% 33% 47% 35% 0% 0% 36% 49% 0% 0% 63% 22% 0% 0% 15% 7% 0% 0% 35% 30% 0% 83% 88% 46% 10% 0% 95% 88% 3% 10% 3% 3% 2% 13% 17% * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
97. 二零一七年中国证券业调查报告 94 Growth/Reduction in net brokerage commission income 经纪业务手续费净收入 增长率 Growth/Reduction in net investment banking commission income 投资银行业务手续费净 收入增长率 Growth/Reduction in net asset management income 资产管理业务手续费净 收入增长率 Growth rate 增长率 Growth/Reduction in investment income 投资收益增长率 Growth/Reduction in net profit before tax 税前利润增长率 Growth in net profit after tax 净利润增 长率 Debt to equity ratio 负债权益比率 2016 - -66% -66% -67% -67% -57% -59% -57% -60% -56% -58% -59% -61% -58% -64% -56% -56% -52% -52% -47% -57% 2015 - 105% 113% 120% 120% 170% 175% 106% 118% 134% 137% 148% 156% 145% 146% 164% 169% 195% 199% 188% 187% 2016 -10% -54% -54% 3,600% 3,600% 29% 29% -10% -11% 18% 29% 64% 69% 21% 18% -23% -41% 202% 202% 60% 49% 2015 21% 248% 251% -40% -40% 57% 57% 31% 32% 208% 168% 69% 67% 385% 427% 36% 66% 83% 86% 93% 45% 2016 - 40% 23% 1,433% 1,433% 57% 55% -26% -26% -36% 12% -70% -40% -5% 5% 81% 14% 5% -70% 71% 94% 2015 - -28% -16% 3,278% 3,278% 141% 141% 10% 9% 165% 157% 114% 129% 134% 133% 21% 3% 8% 1,135% 71% 25% 2016 - -74% -91% 182% 182% -8% 19% -40% -41% -5% -40% -16% 1% -63% -53% -174% -38% -40% -74% -108% 56% 49% 2015 - 105% 116% -13% -13% -10% -22% 260% 291% 56% 163% 163% 194% 450% 380% -3% 40% 40% 49% 12% 89% 99% 2016 -64% -65% -68% -76% -74% -48% -48% -75% -76% -35% -44% -44% -39% -59% -58% -3% -41% -49% -64% -62% -42% -57% 2015 -167% 91% 111% 153% 153% 132% 128% 97% 107% 92% 149% 195% 235% 246% 216% 209% 100% 113% 144% 125% 137% 159% 2016 -81% -66% -68% -74% -71% -43% -42% -74% -74% -34% -42% -45% -39% -60% -57% -3% -43% -48% -61% -59% -37% -50% 2016 3% 92% 80% 530% 529% 557% 550% 455% 209% 296% 208% 468% 360% 265% 191% 40% 248% 217% 381% 311% 321% 240% 2015 3% 169% 153% 501% 501% 705% 711% 361% 277% 439% 374% 529% 478% 365% 304% 41% 406% 324% 609% 574% 335% 259% - - - - 4% 283% 429% - 4% 515% 2% 236% 142% - - - - 7% 283% - - 5% 511% 5% 18% 20% -61% -63% - 172% 178% - 55% 61% - 21% 17% - 16% - 52% 220% -100% 248% -35% -37% 671% 190% 175% 1689% -40% -48% 59% 168% 164% 255% -38% -45% 59% 342% 327% 506% 425% 423% 17% - - - - 65% 248% -50% 1689% 50% 255% 51% 18% 17% -60% 171% 197% 51% -7% -28% -44% 73% -15% 150% -13% 164% 342% * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
98. 95 Mainland China Securities Survey 2017 Financial highlights: Key ratios 财务摘要:主要财务比率 RMB million 人民币(百万元) Performance measures 绩效指标 Income components 收入组成 Return on Equity (ROE) (Net profit after tax/ Average Shareholder’s equity) 权益回报率 (净利润/平均 所有者权益) Cost/income ratio (Operating expenses/ Operating income) 成本对收入比率 (营业支出/营 业收入) Net brokerage commission income/ Operating income 经纪业务手续 费净收入/营业 收入 Net investment banking commission income/ Operating income 投资银行业务手 续费净收入/营 业收入 Net asset management income/ Operating income 资产管理业务手 续费净收入/营 业收入 Investment income/ Operating income 投资收益/营业 收入 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 48b Golden Sun Securities (company level) 国盛证券(母公司) 10% 21% 36% 47% 38% 63% 15% 3% 0% 2% 14% 17% 49 Golden Sun Securities Asset Management Co., Ltd. 国盛证券资产 管理 9% 1% 42% 67% 0% 0% 0% 0% 81% 83% 6% 0% 50 Goldman Sachs Gao Hua Securities # 高盛高华证券# 1% 3% 99% 90% 0% 0% 32% 65% 0% 0% 0% 5% 51a Goldstate Securities (consol. level) 金元证券(合并) 4% 13% 78% 55% 23% 37% 13% 7% 6% 8% 0% 21% 51b Goldstate Securities (company level) 金元证券(母公司) 3% 12% 73% 52% 32% 44% 19% 9% 10% 9% -4% 23% 52a Great Wall Glory Securities (consol. level) 长城国瑞证券 (合并) 8% 8% 58% 60% 24% 64% 13% 1% 22% 5% 20% 6% 52b Great Wall Glory Securities (company level) 长城国瑞证券 (母公司) 8% 8% 60% 60% 25% 64% 13% 1% 24% 5% 10% 6% 53a Great Wall Securities (consol. level) 长城证券(合并) 6% 18% 69% 50% 24% 38% 31% 17% 9% 5% 23% 29% 53b Great Wall Securities (company level) 长城证券(母公司) 6% 18% 69% 49% 32% 37% 32% 18% 10% 6% 24% 29% 54a Guangzhou Securities (consol. level) 广州证券(合并) 9% 11% 57% 60% 17% 38% 27% 11% 25% 6% 26% 47% 54b Guangzhou Securities (company level) 广州证券(母公司) 8% 11% 56% 59% 15% 38% 28% 11% 26% 6% 26% 49% 55a GuoDu Securities (consol. level) 国都证券(合并) 8% 16% 47% 40% 27% 39% 14% 5% 7% 5% 19% 40% 55b GuoDu Securities (company level) 国都证券(母公司) 56a Guolian Securities (consol. level) * 56b Guolian Securities (company level) * 国联证券(合并)* 国联证券(母公司)* 57a Guorong Securities (consol. level) 国融证券(合并) 57b Guorong Securities (company level) 国融证券(母公司) 58a Guosen Securities (consol. level) * 国信证券(合并)* 58b Guosen Securities (company level) * 国信证券(母公司)* 59a Guotai Junan Securities (consol. level)* 国泰君安证券 (合并)* 59b Guotai Junan Securities (company level)* 国泰君安证券 (母公司)* 60a GuoTai JunAn Securities Asset Management(consol. level) 国泰君安证券资 产管理(合并) 60b GuoTai JunAn Securities Asset Management(company level) 国泰君安证券资 产管理(母公司) 61a Guoyuan Securities (consol. level)* 国元证券(合并)* 61b Guoyuan Securities (company level)* 国元证券(母公司)* 62 Haiji Securities 海际证券 8% 8% 7% 5% 5% 9% 11% 11% 8% 38% 38% 7% 6% 0% 18% 24% 24% 25% 23% 34% 34% 22% 22% 25% 26% 15% 14% 3% 45% 53% 49% 78% 74% 53% 48% 45% 47% 51% 51% 47% 48% 80% 36% 36% 32% 57% 54% 36% 35% 42% 40% 64% 63% 37% 37% 83% 27% 32% 41% 28% 20% 44% 41% 27% 38% 0% 0% 29% 31% 0% 38% 48% 54% 39% 37% 54% 56% 47% 52% 0% 0% 45% 47% 0% 14% 21% 4% 40% 49% 21% 21% 14% 18% 0% 0% 14% 16% 89% 5% 9% 1% 15% 18% 7% 8% 8% 9% 0% 0% 6% 6% 73% 7% 3% 7% 2% 4% 2% 3% 9% 0% 95% 95% 3% 4% 0% 6% 1% 2% 1% 2% 2% 2% 6% 0% 92% 92% 2% 2% 0% 19% 14% 16% 50% 53% 20% 20% 32% 25% 5% 5% 47% 24% 4% 37% 26% 25% 40% 39% 25% 22% 24% 26% 14% 8% 33% 25% 15% 63a Haitong Securities (consol. level)* 海通证券(合并)* 7% 18% 62% 45% 19% 33% 12% 6% 2% 4% 23% 35% 63b Haitong Securities (company level)* 海通证券(母公司)* 6% 16% 47% 36% 37% 46% 19% 6% 0% 0% 20% 38% 64 Hengtai changcai Securities 恒泰长财证券 16% 7% 78% 87% 0% 0% 93% 94% 0% 0% 2% 0% * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
99. 二零一七年中国证券业调查报告 96 Growth/Reduction in net brokerage commission income 经纪业务手续费净收入 增长率 Growth/Reduction in net investment banking commission income 投资银行业务手续费净 收入增长率 Growth/Reduction in net asset management income 资产管理业务手续费净 收入增长率 Growth rate 增长率 Growth/Reduction in investment income 投资收益增长率 Growth/Reduction in net profit before tax 税前利润增长率 Growth in net profit after tax 净利润增 长率 Debt to equity ratio 负债权益比率 2016 -60% -64% -64% -63% -63% -55% -41% -58% -62% -58% -60% -60% -60% -46% -60% -65% -65% -60% -58% -63% -64% -58% -62% - 2015 173% 123% 123% 121% 121% 141% 155% 107% 167% 138% 150% 136% 136% 111% 168% 180% 186% 160% 164% 130% 132% 145% 156% - 2016 194% -48% 1% 1% 1,017% 1,017% 24% 24% 138% 133% 69% 67% 33% 86% 103% 105% 24% 24% 14% 11% 42% 43% 19% 45% 48% 39% 2015 51% 119% 61% 61% - 125% 125% 136% 137% 5% 5% 82% 380% 73% 101% 42% 43% 102% 116% 36% 33% -37% 43% 21% 291% 2016 -100% 740% -55% -46% 333% 333% 26% 13% 327% 320% -22% -27% 85% 54% 36% 35% -44% -25% 7% 34% 34% -24% -7% -56% - 2015 -39% 57% 57% 93% 123% 24% 21% 111% 127% 39% 35% 26% 60% 132% 90% 96% 82% 81% 13% 30% 200% - 2016 -46% - -100% -101% -108% 252% 76% -45% -45% -46% -49% -71% -71% -68% -65% -5% 0% -65% -57% -10% -44% -52% -18% -16% -47% -73% -51% -75% - 2015 72% -49% 21% 12% -22% -22% 66% 82% 37% 39% 120% 252% 29% 46% 112% 102% 222% 241% 179% 288% 35% 7% 23% 18% -36% 392% 541% - 2016 -20% 1800% -85% -68% -74% 13% 4% -59% -61% 3% 0% -47% -52% -57% -60% -60% -58% -67% -61% -33% -48% 79% 78% -51% -55% -15% -47% -59% 145% 2015 149% -34% 75% 91% 1,527% 1,557% 172% 195% 73% 85% 125% 204% 107% 125% 99% 90% 184% 199% 133% 154% 44% 51% 104% 105% -49% 103% 128% 1,470% 2016 -18% 2900% -75% -69% -73% 13% 4% -55% -58% 5% 2% -46% -52% -57% -60% -61% -59% -67% -60% -32% -46% 99% 98% -49% -52% -15% -47% -58% 148% 2016 164% 13% 62% 209% 181% 472% 208% 215% 201% 278% 265% 283% 274% 204% 181% 364% 269% 298% 256% 272% 246% 73% 54% 243% 173% 0% 360% 213% 22% 2015 340% 7% 140% 254% 236% 177% 177% 255% 234% 273% 262% 237% 231% 288% 260% 516% 348% 390% 355% 347% 302% 56% 42% 262% 216% 4% 393% 281% 24% * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
100. 97 Mainland China Securities Survey 2017 Financial highlights: Key ratios 财务摘要:主要财务比率 RMB million 人民币(百万元) Performance measures 绩效指标 Return on Equity (ROE) (Net profit after tax/ Average Shareholder’s equity) 权益回报率 (净利润/平均 所有者权益) Cost/income ratio (Operating expenses/ Operating income) 成本对收入比率 (营业支出/营 业收入) 2016 2015 2016 2015 Net brokerage commission income/ Operating income 经纪业务手续 费净收入/营业 收入 2016 2015 Income components 收入组成 Net investment banking commission income/ Operating income 投资银行业务手 续费净收入/营 业收入 Net asset management income/ Operating income 资产管理业务手 续费净收入/营 业收入 2016 2015 2016 2015 Investment income/ Operating income 投资收益/营业 收入 2016 2015 65a Hengtai Securities (consol. level)* 恒泰证券(合并)* 5% 23% 76% 53% 36% 45% 16% 6% 7% 8% 24% 31% 65b Hengtai Securities (company level)* 恒泰证券(母公司)* 2% 25% 84% 45% 58% 48% 4% 1% 14% 9% 22% 31% 66a Hongta Securities (consol. level) 红塔证券(合并) 3% 11% 58% 33% 27% 42% 11% 2% 8% 1% 6% 33% 66b Hongta Securities (company level) 红塔证券(母公司) 3% 10% 49% 33% 32% 50% 12% 3% 1% 0% 6% 25% 67a Hongxin Securities (consol. level) 宏信证券(合并) 12% 31% 65% 54% 38% 52% 26% 5% 16% 3% 14% 28% 67b Hongxin Securities (company level) 宏信证券(母公司) 68a Hua An Securities (consol. level)* 华安证券(合 并)* 68b Hua An Securities (company level)* 华安证券(母公 司)* 69a HuaChuang Securities (consol. level) 华创证券(合并) 69b HuaChuang Securities (company level) 华创证券(母 公司) 11% 6% 7% 6% 4% 31% 32% 31% 23% 21% 65% 54% 51% 70% 73% 53% 36% 35% 60% 58% 39% 58% 56% 27% 35% 53% 65% 66% 49% 58% 27% 3% 3% 26% 35% 5% 2% 2% 12% 15% 15% 3% 4% 10% 13% 3% 14% 28% 2% 26% 20% 2% 17% 13% 4% 29% 21% 5% 24% 16% 70a Huafu Securities (consol. level) 华福证券(合并) 12% 37% 59% 48% 30% 49% 13% 3% 21% 10% 43% 23% 70b Huafu Securities (company level) 华福证券(母公司) 7% 36% 69% 48% 38% 52% 20% 4% 15% 8% 15% 16% 71a Huajin Securities (consol. level) 华金证券(合并) 7% 10% 70% 61% 7% 19% 41% 17% 4% 14% 51% 38% 71b Huajin Securities (company level) 华金证券(母公司) 7% 10% 68% 61% 7% 19% 40% 17% 4% 14% 45% 38% 72a Huarong Securities (consol. level) 华融证券(合并) 72b Huarong Securities (company level) 华融证券(母公司) 73a Huatai Securities (consol. level)* 华泰证券(合并)* 73b Huatai Securities (company level)* Huatai Securities (Shanghai) 74a Asset Management Co., Ltd. (consol. level) Huatai Securities (Shanghai) 74b Asset Management Co., Ltd. (company level) 华泰证券(母公司)* 华泰证券(上海) 资产管理(合并) 华泰证券(上海) 资产管理(母 公司) 75 Huatai United Securities 华泰联合证券 16% 17% 8% 6% 34% 33% 10% 22% 21% 17% 16% 72% 69% 8% 61% 40% 50% 47% 37% 35% 65% 60% 46% 46% 44% 27% 23% 66% 7% 11% 32% 46% 0% 0% 0% 17% 26% 48% 57% 0% 0% 0% 25% 30% 12% 2% 0% 0% 82% 16% 21% 6% 1% 0% 0% 75% 0% 26% 6% 0% 79% 95% 0% 3% 15% 1% 0% 72% 99% 0% 49% 42% 28% 23% 20% 4% 8% 53% 39% 30% 27% 23% 0% 16% 76a HuaXi Securities (consol. level) 华西证券(合并) 15% 24% 29% 46% 57% 75% 11% 3% 0% 0% 15% 11% 76b HuaXi Securities (company level) 华西证券(母 公司) 9% 28% 49% 38% 59% 76% 12% 3% 0% 1% 13% 9% 77 Huaying Securities # 华英证券# 11% 10% 66% 68% 0% 0% 87% 81% 0% 0% 9% 11% 78a Hwabao Securities (consol. level) 华宝证券(合并) 4% 5% 67% 66% 31% 47% 3% 1% 2% 5% 49% 18% 78b Hwabao Securities (company level) 79a Industrial Asset Management Co., Ltd (consol. level) 79b Industrial Asset Management Co., Ltd (company. level) 80a Industrial Securities (consol. level)* 华宝证券(母公司) 3% 兴证证券资产 管理(合并) 兴证证券资产 管理(母公司) 23% 29% 兴业证券(合并)* 9% 5% 47% 44% 26% 70% 55% 48% 62% 67% 44% 45% 49% 32% 0% 0% 22% 47% 0% 0% 33% 3% 0% 0% 19% 1% 0% 0% 10% 3% 94% 91% 7% 5% 35% 84% -19% 89% 8% 7% 25% 18% 17% 10% 25% 80b Industrial Securities (company)* 兴业证券(母公司)* 7% 22% 62% 48% 30% 43% 28% 13% 0% 0% 39% 31% * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
101. 二零一七年中国证券业调查报告 98 Growth/Reduction in net brokerage commission income 经纪业务手续费净收入 增长率 Growth/Reduction in net investment banking commission income 投资银行业务手续费净 收入增长率 Growth/Reduction in net asset management income 资产管理业务手续费净 收入增长率 Growth rate 增长率 Growth/Reduction in investment income 投资收益增长率 Growth/Reduction in net profit before tax 税前利润增长率 Growth in net profit after tax 净利润增 长率 Debt to equity ratio 负债权益比率 2016 -54% -56% -68% -68% -62% -62% -59% -61% -54% -56% -54% -59% -51% -51% -62% -62% -57% -58% 2015 172% 178% 178% 178% 143% 143% 147% 152% 142% 147% 153% 153% 135% 135% 155% 155% 153% 157% 2016 46% 129% 124% 124% 168% 168% -38% -38% 77% 77% 188% 209% 227% 227% 41% 25% 35% 39% 2015 161% -38% 113% 113% 720% 720% 513% 513% 114% 114% 229% 229% 5,668% 5,668% 119% 120% 31% 3% 2016 -51% -43% 328% 25% 198% 179% -5% -1% 104% 87% 52% 7% -63% -62% -90% 49% 447% -100% 2015 193% 192% -12% -23% 51% 51% 636% 299% 23% 23% 209% 128% 649% 649% 111% 67% -30% -99% 2016 -55% -75% -91% -87% -74% -75% -42% -40% 15% 10% 42% -47% 86% 67% -18% -4% -40% -55% 2015 202% 223% 9% -27% 41% 40% 145% 107% 106% 74% 116% 140% 523% 523% 52% 81% 333% 253% 2016 -71% -89% -68% -62% -58% -59% -67% -66% -37% -53% -39% -66% -4% 3% -14% -2% -40% -51% 2015 161% 240% 99% 84% 95% 93% 181% 213% 169% 175% 133% 136% 2,174% 2,174% 112% 105% 141% 137% 2016 -69% -87% -68% -60% -58% -60% -68% -65% -39% -54% -36% -65% 20% 30% -13% 4% -40% -49% 2016 274% 256% 37% 34% 491% 414% 187% 147% 129% 129% 316% 290% 180% 155% 1157% 274% 369% 257% 2015 302% 272% 57% 55% 663% 654% 461% 396% 555% 487% 688% 562% 194% 188% 746% 321% 455% 335% - - - - 65% - 29% - 41% - 41% 683% 1,813% - - - - 54% - -7100% - 45% - 45% 18% 27% -66% 138% 37% 49% 29% 8% -75% -54% -43% -37% 29% 29% 32% -40% 18% 121% 33% -28% 26% 301% 23% 425% -66% 148% 49% 8% -74% -38% -39% 70% -64% 102% -62% 283% 384% -36% 149% 30% 400% 71% 345% -53% 103% 0% 160% 26% -13% 24% -6% 100% 177% 25% 4% 64% 136% 23% 199% -36% 149% 400% 345% -41% 115% 78% -13% -17% 166% -11% 146% 188% - - - - -29% 392% -173% -45% -29% 193% -30% 198% 105% - - - - -24% 394% -41% 3,805% -6% 440% -7% 28% 53% -57% 146% 25% 105% -28% 238% -35% 76% -51% 131% -48% 298% 490% -59% 157% 27% 117% - -100% -25% 84% -60% 127% -55% 272% 479% * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
102. 99 Mainland China Securities Survey 2017 Financial highlights: Key ratios 财务摘要:主要财务比率 RMB million 人民币(百万元) 81a J.P. Morgan First Capital Securities # (consol. level) # 81b J.P. Morgan First Capital Securities # (company) # Performance measures 绩效指标 Income components 收入组成 Return on Equity (ROE) (Net profit after tax/ Average Shareholder’s equity) 权益回报率 (净利润/平均 所有者权益) Cost/income ratio (Operating expenses/ Operating income) 成本对收入比率 (营业支出/营 业收入) Net brokerage commission income/ Operating income 经纪业务手续 费净收入/营业 收入 Net investment banking commission income/ Operating income 投资银行业务手 续费净收入/营 业收入 Net asset management income/ Operating income 资产管理业务手 续费净收入/营 业收入 Investment income/ Operating income 投资收益/营业 收入 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 第一创业摩根大 通证券(合并)# 6% 2% 78% 91% 0% 0% 88% 88% 0% 0% 7% 1% 第一创业摩根 大通证券(母公 司)# 6% 2% 80% 91% 0% 0% 89% 88% 0% 0% 4% 1% 82a Jianghai Securities (consol. level) 江海证券(合并) 5% 22% 59% 45% 32% 52% 12% 4% 10% 8% 20% 19% 82b Jianghai Securities (company level) 江海证券 (母公司) 5% 22% 57% 43% 30% 52% 13% 4% 11% 8% 21% 19% 83a JZ Securities (consol. level) 九州证券(合并) 7% 15% 74% 57% 4% 13% 23% 3% 8% 1% 74% 72% 83b JZ Securities (company level) 九州证券(母公司) 8% 16% 72% 56% 4% 13% 24% 4% 8% 1% 75% 73% 84a Kaiyuan Securities (consol. level) 开源证券(合并) 9% 13% 81% 62% 13% 31% 46% 3% 6% 2% 35% 60% 84b Kaiyuan Securities (company level) 开源证券(母公司) 9% 14% 81% 62% 12% 31% 48% 3% 6% 2% 34% 61% 85 Kington Securities 金通证券 -3% -3% 250% 200% 0% 0% 0% 0% 0% 0% 0% 0% 86 Lianchu Securities 联储证券 13% 2% 71% 96% 14% 76% 9% 0% 40% 0% 31% 10% 87a LianXun Securities (consol. level) 联讯证券(合并) 87b LianXun Securities(company level) 联讯证券 (母公司) 88 Minmetals Securities Brokerage 五矿证券 89a Minsheng Securities (consol. level) 民生证券(合并) 89b Minsheng Securities (company level) 民生证券 (母公司) 90 Morgan Stanley Huaxin Securities 摩根士丹利华鑫 # 证券 # 91a Nanjing Securities (consol. level) 南京证券(合并) 91b Nanjing Securities (company level) 南京证券(母公司) 92a New Times Securities (consol. level) 新时代证券(合并) 92b New Times Securities (company 新时代证券 level) (母公司) 93a Northeast Securities (consol. level)* 东北证券(合并)* 93b Northeast Securities (company level)* 东北证券(母公司)* 94 N-Securities 网信证券 4% 4% 7% 1% 1% 4% 5% 6% 7% 9% 10% 8% 3% 14% 14% 15% 16% 16% 4% 20% 20% 27% 24% 26% 25% 19% 73% 73% 71% 86% 86% 94% 57% 54% 70% 57% 64% 61% 94% 60% 60% 63% 46% 46% 98% 37% 37% 56% 54% 50% 48% 61% 29% 29% 12% 38% 39% 0% 44% 41% 19% 26% 21% 29% 19% 51% 51% 30% 49% 50% 0% 58% 59% 30% 49% 36% 40% 43% 12% 12% 30% 40% 41% 96% 17% 17% 17% 23% 15% 22% 9% 4% 4% 7% 17% 17% 94% 5% 5% 7% 12% 8% 9% 0% 6% 6% 2% 2% 3% 0% 7% 7% 45% 7% 8% 3% 11% 4% 4% 2% 1% 1% 0% 2% 2% 35% 6% 3% 3% 0% 22% 22% 17% 0% -1% 1% 19% 17% 17% 33% 48% 61% 47% 18% 18% 24% 17% 16% 3% 25% 21% 20% 22% 40% 43% 44% 95a Orient Securities (consol. level)* 东方证券(合并)* 95b Orient Securities (company level)* 96 Orient Securities Asset Management Co., Ltd. 东方证券 (母公司)* 上海东方证券资 产管理 97a Pacific Securities (consol. level)* 太平洋证券(合并)* 97b Pacific Securities (company level)* 太平洋证券 (母公司)* 98a Ping An Securities (consol. level) 平安证券(合并) 98b Ping An Securities (company level) 平安证券(母公司) 6% 4% 47% 6% 5% 9% 9% 27% 26% 78% 15% 17% 15% 15% 62% 62% 51% 58% 63% 65% 60% 39% 32% 61% 47% 46% 63% 60% 24% 37% 0% 21% 24% 22% 28% 22% 26% 0% 38% 38% 38% 42% 22% 8% 0% 11% 13% 18% 23% 6% 1% 0% 4% 4% 13% 15% 13% 0% 87% 15% 18% 5% 5% 9% 0% 99% 3% 3% 2% 2% 53% 84% 8% 34% 21% 23% 26% 62% 72% 1% 48% 47% 26% 25% * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
103. 二零一七年中国证券业调查报告 100 Growth/Reduction in net brokerage commission income 经纪业务手续费净收入 增长率 Growth/Reduction in net investment banking commission income 投资银行业务手续费净 收入增长率 Growth/Reduction in net asset management income 资产管理业务手续费净 收入增长率 Growth rate 增长率 Growth/Reduction in investment income 投资收益增长率 Growth/Reduction in net profit before tax 税前利润增长率 Growth in net profit after tax 净利润增 长率 Debt to equity ratio 负债权益比率 2016 - 2015 - 2016 33% 2015 1% 2016 - 2015 - 2016 1000% 2015 - 2016 204% 2015 -34% 2016 200% 2016 12% 2015 9% - - 33% 1% - - 600% - 179% -34% 172% 12% 9% -64% -65% -55% -61% -49% -53% -64% -61% -61% -65% -61% -61% -62% -63% -62% -62% -61% -61% -62% -53% -57% -64% -64% -50% -51% 153% 168% -25% -25% 164% 186% -100% 139% 162% 162% 163% 118% 117% 130% 136% 124% 124% 128% 133% 154% 144% 153% 173% 173% 171% 176% 93% 93% 833% 833% 1,864% 1,864% 114% 114% 255% 20% 20% -3% 89% 86% 39% 39% 24% 24% 66% 68% 90% 92% 12% 13% -27% -22% -27% -23% - 1,600% - 1,525% 324% 232% 324% 211% - - - 19,500% 7% 0% 7% 0% 136% 69% -33% 25% 69% 23% 48% - 31% 33% 86% 86% 11% -23% 11% -4% 136% 86% 136% -58% 100% -36% 113% - - -36% 3% 297% 2% 300% 170% 147% 182% 95% 23% 23% 154% 154% 54% 54% 36% 48% 51% 88% 88% 89% 234% 62% 62% 396% 381% 16% 15% 93% 82% -35% -35% 46% 39% -31% -30% 517% -16% -17% -39% -100% -102% -64% -62% -58% -47% 7% -20% -26% -8% -62% -64% 673% -54% -75% -23% -22% 21% 24% 7,840% 7,827% 175% 197% 239% 239% 30% 146% 155% 119% 168% 197% 67% 37% 202% 191% 171% 150% 158% 13% 176% 184% 62% 70% -55% -55% -2% -3% -38% -35% 0% 1,660% -54% -54% -37% -87% -87% 81% -65% -61% -58% -33% -52% -60% -79% -70% -82% -5% -47% -61% -14% -17% 120% 121% 912% 933% 142% 162% 256% 85% 558% 558% 306% 196% 187% 7% 150% 150% 118% 111% 145% 139% 355% 224% 235% 2,386% 93% 110% 171% 205% -55% -55% 6% 3% -28% -25% 0% 1,450% -54% -54% -37% -87% -88% 10% -65% -61% -65% -36% -49% -56% -82% -67% -78% -5% -41% -58% -11% -14% 134% 128% 325% 348% 312% 330% 0% 302% 480% 481% 291% 204% 201% 20% 189% 176% 153% 128% 353% 376% 137% 419% 377% 47% 221% 224% 255% 257% 279% 272% 202% 197% 276% 285% 0% 421% 425% 425% 296% 174% 171% 18% 363% 352% 328% 321% 526% 555% 168% 488% 433% 80% 328% 330% 298% 294% * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
104. 101 Mainland China Securities Survey 2017 Financial highlights: Key ratios 财务摘要:主要财务比率 RMB million 人民币(百万元) 99 Qilu Securities (Shanghai) Asset Management Co., Ltd. 100a Sealand Securities (consol. level)* 100b Sealand Securities (company level)* 101 Shanghai Haitong Securities Asset Management Co., Ltd. 102a Shanghai Securities (consol. level) 102b Shanghai Securities (company level) 齐鲁证券(上海) 资产管理 Performance measures 绩效指标 Return on Equity (ROE) (Net profit after tax/ Average Shareholder’s equity) 权益回报率 (净利润/平均 所有者权益) Cost/income ratio (Operating expenses/ Operating income) 成本对收入比率 (营业支出/营 业收入) 2016 2015 2016 2015 Net brokerage commission income/ Operating income 经纪业务手续 费净收入/营业 收入 2016 2015 Income components 收入组成 Net investment banking commission income/ Operating income 投资银行业务手 续费净收入/营 业收入 Net asset management income/ Operating income 资产管理业务手 续费净收入/营 业收入 2016 2015 2016 2015 Investment income/ Operating income 投资收益/营业 收入 2016 2015 42% 13% 87% 97% 0% 0% 0% 0% 97% 99% 2% 1% 国海证券(合并)* 8% 18% 64% 51% 22% 47% 34% 17% 5% 1% 23% 11% 国海证券(母公司)* 上海海通证券资 产管理 上海证券(合并) 7% 13% 28% 18% 23% 22% 59% 36% 33% 47% 62% 49% 22% 0% 17% 50% 0% 57% 41% 0% 2% 19% 0% 2% 6% 84% 0% 1% 90% 0% 25% 19% 77% 11% 9% 22% 上海证券(母公司) 27% 22% 33% 48% 16% 58% 2% 1% 1% 1% 73% 22% 103a Shanxi Securities (consol. level)* 山西证券(合并)* 4% 14% 70% 48% 27% 48% 32% 18% 2% 0% 18% 17% 103b Shanxi Securities (company level)* 104 Shenwan Hongyuan Financing Services Co. 105a Shenwan Hongyuan Securities (consol. level) 105b Shenwan Hongyuan Securities (company level) 106 Shenwan Hongyuan Securities (Western) 107a SINOLINK Securities (consol. level)* 107b SINOLINK Securities (company level)* 108a SooChow Securities (consol. level)* 108b SooChow Securities (company level)* 109a Southwest Securities (consol. level)* 109b Southwest Securities (company level)* 山西证券(母公司)* 申万宏源证券承 销保荐 申万宏源证券 (合并) 申万宏源证券 (母公司) 申万宏源西部 证券 国金证券(合并)* 国金证券(母公司)* 东吴证券(合并)* 东吴证券(母公司)* 西南证券(合并)* 西南证券(母公司)* 3% 13% 23% 24% 11% 51% 10% 43% 20% 120% 8% 18% 8% 17% 8% 18% 8% 18% 5% 19% 5% 18% 59% 63% 57% 54% 35% 65% 62% 58% 48% 68% 64% 35% 71% 42% 43% 29% 54% 53% 45% 44% 50% 50% 46% 0% 40% 40% 62% 32% 33% 28% 32% 23% 24% 64% 0% 52% 51% 86% 46% 48% 39% 41% 24% 27% 4% 84% 14% 9% 0% 28% 30% 19% 25% 38% 38% 2% 85% 6% 4% 0% 17% 18% 11% 12% 17% 19% 4% 0% 12% 15% 0% 4% 4% 5% 7% 3% 5% 2% 36% 18% 0% 7% 3% 8% 27% 23% 8% 30% 24% 0% 0% 0% 4% 11% 15% 4% 12% 14% 3% 37% 35% 4% 38% 34% 8% 38% 46% 9% 38% 41% 110a Tebon Securities (consol. level) 德邦证券(合并) 12% 26% 67% 54% 14% 20% 38% 30% 17% 17% 7% 21% 110b Tebon Securities (company level) 德邦证券(母公司) 11% 25% 65% 51% 14% 22% 44% 34% 21% 20% 7% 24% 111a Tianfeng Securities (consol. level) 天风证券(合并) 5% 12% 64% 60% 9% 18% 34% 19% 16% 111b Tianfeng Securities (company level) 天风证券(母公司) 6% 14% 68% 60% 13% 20% 48% 23% 20% 112a UBS Securities (consol. level) # 瑞银证券(合并)# 5% 17% 89% 69% 26% 38% 49% 43% 0% 5% 48% 40% 4% 38% 46% 0% 6% 5% 112b UBS Securities (company level) # 瑞银证券(母公司)# 5% 17% 89% 68% 26% 39% 49% 43% 0% 0% 6% 5% 113a Vanho Securities (consol. level) 万和证券(合并) 4% 9% 70% 61% 29% 53% 2% 0% 1% 0% 77% 42% 113b Vanho Securities (company level) 万和证券 (母公司) 4% 9% 70% 61% 29% 53% 2% 0% 1% 0% 77% 42% 114a Wanlian Securities (consol. level) 万联证券(合并) 4% 13% 64% 57% 39% 55% 16% 9% 4% 2% 23% 23% 114b Wanlian Securities (company level) 115a Western Securities (consol. level)* 万联证券 (母公司) 西部证券(合并)* 4% 13% 64% 57% 39% 55% 16% 9% 4% 2% 23% 23% 9% 22% 58% 53% 28% 48% 25% 13% 3% 1% 40% 19% * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
105. 二零一七年中国证券业调查报告 102 Growth/Reduction in net brokerage commission income 经纪业务手续费净收入 增长率 Growth/Reduction in net investment banking commission income 投资银行业务手续费净 收入增长率 Growth/Reduction in net asset management income 资产管理业务手续费净 收入增长率 Growth rate 增长率 Growth/Reduction in investment income 投资收益增长率 Growth/Reduction in net profit before tax 税前利润增长率 Growth in net profit after tax 净利润增 长率 Debt to equity ratio 负债权益比率 2016 - -63% -68% -60% -61% -66% -70% -62% -62% -70% -52% -52% -51% -56% -59% -60% -54% -62% -49% -47% -51% -51% -53% -53% -60% -60% -66% 2015 - 103% 115% 138% 143% 114% 134% 208% 213% 153% 162% 158% 159% 126% 142% 153% 221% 44% 44% 127% 127% 166% 166% 186% 2016 - 54% 54% -16% 160% 5% 24% 73% 28% 13% 14% 14% 18% 18% -7% -7% -19% -21% 71% 75% -18% -18% 3% 3% 21% 2015 - 189% 189% -24% 30% 137% 55% 148% 146% 62% 62% 52% 50% 321% 483% 242% 249% 80% 80% 192% 192% 254% 2016 78% 158% 177% -56% 0% 77% 153% -2% -23% -14% -28% -28% 7% 1% -83% -77% -36% -36% 196% 302% -100% -100% 200% 200% 12% 12% 98% 2015 1307% 83% 67% 181% 74% 169% 129% 227% 118% 107% 89% 92% 574% 530% 369% 364% 228% 148% -73% -73% 92% 92% 106% 2016 450% 2015 - 58% 18% 58% 9% -5% -1,198% 374% 33% 349% -35% 35% 133% -19% 131% 347% - -44% - -41% - - - -47% 44% -44% 40% -27% 79% -35% 120% -65% 216% -58% 161% -78% -81% 13% -31% 242% 246% 349% 274% -14% -14% 58% -44% -44% 3,003% 58% 3,003% -42% 42% -43% 42% 26% 213% 2016 436% -42% -44% -21% 80% 80% -65% -73% 125% -63% -61% -63% -45% -43% -45% -45% -74% -70% -49% -52% -10% -32% -69% -69% -31% -31% -52% -52% -44% 2015 8133% 154% 159% 1% 166% 170% 151% 139% 191% 195% 152% 203% 161% 132% 148% 144% 356% 306% 145% 143% 429% 429% 131% 131% 197% 2016 437% -42% -44% -21% 80% 80% -64% -72% 121% -59% -54% -63% -45% -42% -44% -44% -74% -69% -48% -51% -5% -30% -68% -69% -36% -36% -52% -52% -43% 2016 128% 374% 367% 40% 213% 176% 269% 260% 48% 398% 358% 253% 173% 150% 337% 249% 261% 228% 181% 189% 141% 299% 34% 34% 341% 339% 207% 207% 334% 2015 132% 280% 271% 75% 517% 465% 264% 220% 31% 520% 492% 680% 241% 210% 381% 334% 266% 244% 207% 214% 197% 254% 97% 97% 256% 256% 281% 281% 378% * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
106. 103 Mainland China Securities Survey 2017 Financial highlights: Key ratios 财务摘要:主要财务比率 RMB million 人民币(百万元) 115b Western Securities (company level)* 西部证券 (母公司)* Performance measures 绩效指标 Return on Equity (ROE) (Net profit after tax/ Average Shareholder’s equity) 权益回报率 (净利润/平均 所有者权益) Cost/income ratio (Operating expenses/ Operating income) 成本对收入比率 (营业支出/营 业收入) 2016 2015 2016 2015 Net brokerage commission income/ Operating income 经纪业务手续 费净收入/营业 收入 2016 2015 Income components 收入组成 Net investment banking commission income/ Operating income 投资银行业务手 续费净收入/营 业收入 Net asset management income/ Operating income 资产管理业务手 续费净收入/营 业收入 2016 2015 2016 2015 Investment income/ Operating income 投资收益/营业 收入 2016 2015 9% 22% 55% 51% 28% 49% 27% 13% 4% 1% 42% 20% 116a Xiangcai Securities (consol. level) 湘财证券(合并) 7% 23% 66% 46% 44% 60% 17% 6% 9% 4% 15% 14% 116b Xiangcai Securities (company level) 湘财证券(母公司) 8% 25% 60% 47% 47% 61% 18% 7% 9% 4% 10% 12% 117a Xizang Eastmoney Securities (consol. level) 西藏东方财富 (合并) 10% 27% 62% 72% 58% 50% 11% 6% 8% 6% -2% 20% 117b Xizang Eastmoney Securities (company level) 西藏东方财富 (母公司) 10% 27% 60% 71% 56% 49% 12% 6% 8% 6% -2% 21% 118a Yingda Securities (consol. level) 英大证券(合并) 8% 16% 58% 48% 27% 53% 18% 3% 2% 5% 33% 30% 118b Yingda Securities (company level) 英大证券 (母公司) 8% 17% 56% 44% 25% 54% 20% 4% 3% 6% 35% 25% 119a Yintai Securities (consol. level) 银泰证券(合并) 5% 21% 53% 35% 39% 42% 2% 0% 2% 0% 28% 40% 119b Yintai Securities (company level) 120 Zhejiang Zheshang Securities Asset Management Co., Ltd. 121a Zheshang Securities (consol. level)* 121b Zheshang Securities (company level)* 银泰证券 (母公司) 浙江浙商证券资 产管理 浙商证券(合 并)* 浙商证券 (母公司)* 5% 20% 54% 36% 42% 43% 2% 25% 30% 49% 54% 0% 0% 0% 14% 24% 65% 59% 29% 46% 10% 11% 23% 58% 52% 49% 65% 17% 0% 1% 0% 25% 40% 0% 99% 93% 2% 5% 5% 13% 10% 7% 9% 7% 0% 0% 14% 11% 122 Zhongde Securities # 中德证券# 15% 17% 67% 69% 0% 0% 94% 95% 0% 0% 1% 0% 123a Zhongshan Securities (consol. level) 123b Zhongshan Securities (company level) 中山证券(合并) 中山证券 (母公司) 9% 11% 26% 25% 69% 67% 58% 59% 17% 13% 26% 26% 55% 56% 27% 29% 8% 10% 17% 23% 9% 11% 15% 20% 124a Zhongtai Securities (consol. level) 中泰证券(合并) 8% 26% 62% 47% 40% 54% 13% 4% 11% 4% 21% 21% 124b Zhongtai Securities (company level) 125a Zhongtian Securities (consol. level) 125b Zhongtian Securities (company level) 126 Dongzheng Ronghui Securities Asset Management 127 Shenggang Securities Company Limited# 128 China Renaissance Securities (China) Co., Ltd.# 129a Bohai Huijin Securities Asset Management Co., Ltd. 129b Bohai Huijin Securities Asset Management Co., Ltd. Average (consol.) Average (company) 中泰证券(母公司) 中天证券 (合并) 中天证券 (母公司) 东证融汇证券 资管 申港证券# 华菁证券# 渤海汇金资管 (合并) 渤海汇金资管 (母公司) 平均(合并) 平均(母公司) 8% 1% 2% 18% -2% -11% 13% 13% 8% 8% 25% 52% 16% 86% 17% 80% - 53% - 163% - 335% - 60% - 22% 21% 58% 58% 54% 44% 47% 44% 47% 45% 51% 56% 53% 0% 0% 0% 0% 0% 30% 34% 61% 59% 59% 44% 48% 17% 1% 1% 0% 0% 22% 0% 0% 18% 21% 5% 0% 0% 1% 0% 1% - 88% - 0% - 0% - 80% - 98% 9% 9% 9% 9% 0% 26% 17% 0% 58% 33% 0% 59% 32% 0% 11% - 0% 8% - 0% 0% - 0% 60% - 0% 2% - 5% 28% 27% 5% 27% 26% * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
107. 二零一七年中国证券业调查报告 104 Growth/Reduction in net brokerage commission income 经纪业务手续费净收入 增长率 Growth/Reduction in net investment banking commission income 投资银行业务手续费净 收入增长率 Growth/Reduction in net asset management income 资产管理业务手续费净 收入增长率 Growth rate 增长率 Growth/Reduction in investment income 投资收益增长率 Growth/Reduction in net profit before tax 税前利润增长率 Growth in net profit after tax 净利润增 长率 Debt to equity ratio 负债权益比率 2016 -67% -61% -61% -7% -9% -61% -67% -62% -62% -54% -54% -60% -66% -59% -60% -56% -58% -58% -60% 2015 188% 141% 141% 169% 200% 131% 142% 159% 159% 180% 180% 101% 116% 145% 152% 137% 149% 164% 175% 2016 21% 38% 38% 50% 50% 307% 307% 55% 56% -5% 29% 29% 61% 64% 28% 30% 2015 254% 125% 125% 112% 112% 173% 173% -80% -80% 27% 26% 180% 521% 521% 36% 34% 90% 90% 73% 77% 2016 93% 19% 14% 5% 5% -69% -69% 200% 150% -3% -2% -47% -47% 67% 400% 3% 9% 2015 100% 122% 125% 66% 66% 58% 55% -10% -10% 106% 108% 20% 24% 228% -100% 115% 121% 138% 2016 25% -41% -60% -108% -109% -15% 2% -72% -75% -64% -44% -23% -53% -51% -45% -31% -18% -15% -36% -41% 2015 244% -32% -38% 4% 1% 80% 59% 142% 142% 1,282% 151% 210% -100% 182% 166% 792% 822% 54% 67% 148% 159% 2016 -46% 2015 197% -65% 56% -61% 54% 7% 68% 5% 69% -42% 220% -45% 231% -69% 195% -71% 195% 2% 96% -35% 150% -46% 189% 0% -1,999% -56% 364% -48% 405% -60% 219% -59% 191% -87% 170% -83% 207% - - - - - - - - - -50% -51% - 153% 169% 2016 -44% -66% -61% 4% 2% -44% -47% -68% -71% 5% -32% -44% -2% -60% -50% -58% -57% -87% -83% -48% -50% 2016 289% 329% 327% 202% 187% 352% 298% 138% 140% 218% 462% 466% 25% 448% 291% 275% 249% 172% 159% 18% 1% 5% 593% 14% 307% 252% 2015 330% 590% 644% 717% 641% 396% 363% 186% 187% 40% 557% 562% 23% 348% 338% 323% 311% 397% 364% 0% 389% 342% * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
108. 105 Mainland China Securities Survey 2017 Financial highlights and key ratios explanation 财务摘要和主要财务比率的阐释 1 Net brokerage commission income Gross brokerage commission income, including securities brokerage, futures brokerage and commission earned 经纪业务净收入 from sale of financial products, net of direct expenses 代理买卖证券业务收入, 包括证券经纪佣金 、期货经纪佣金 、代理销售金融产品收入,减去直接支出 2 Net investment banking income 投资银行业务手续费净收入 Gross underwriting and sponsorship commission income net of direct expenses 证券承销及保荐业务收入减去直接支出 3 Net asset/fund management income Net service income from management of investments held in trust of customers as well as fund management 受托客户资产管理业务及基金管理费净 income and sale of funds income earned by fund management subsidiaries 收入 受托客户资产管理业务净收入及基金管理子公司的基金管理费及基金销售净收入 4 Investment income 投资收益 (a) Gains/losses on sale of financial assets/liabilities and derivatives (b) Income earned during the holding period of financial assets/liabilities and derivatives (c) Income earned from long-term investment (a) 出售金融资产/负债和衍生工具的收益/亏损 (b) 持有金融资产/负债和衍生工具期间所得收益 (c) 长期股权投资收益 5 Fair value gains/losses on trading and Unrealised gains/losses on mark-to-market valuation of trading and derivatives financial assets and liabilities at year derivatives position end, including equity derivatives issued 公允价值变动净损益 交易性和衍生工具的金融资产/负债在按公允价值计算所确认的未实现收益/亏损,包括已发行的股票衍生工具 6 Net interest income 利息净收入 Interest income net of interest expense 利息收入减去利息支出 7 Operating income 营业收入 Includes net commission income, net interest income, investment income, exchange gain/loss and other operating income 包括佣金净收入、利息净收入、投资收益、公允价值变动净损益、汇兑净收益/亏损、其他业务收入 8 Operating expense 营业支出 Includes operational expenses and tax and surcharge 包括业务及管理费、税金及附加 9 Asset impairment charge/(write-back) Includes charge/(write-back) on bad debts, long term investment, fixed assets, intangible assets, etc. 资产减值损失/(回拨) 包括坏账、长期投资项目、固定资产、无形资产的拨备/(回拨)等 10 Net profit/(loss) before tax 利润/(亏损)总额 Profit or loss after tax, non-controlling interest and transfers to/from reserves and appropriation 所得税前利润/(亏损),不包括少数股东利益及转入或转出的储备 11 Net profit/(loss) after tax 净利润/(亏损) Profit after income tax but before non-controlling interest and transfers to/from reserves and appropriation 所得税后利润/(亏损),不包括少数股东利益及转入或转出的储备 12 Total assets 资产合计 Includes client monies held in segregated accounts 包括客户资金存款 13 Client monies held in segregated bank Money held in bank deposits on behalf of clients 客户资金存款 在银行账户中属于客户资金的存款 14 Trading and derivative financial assets/ Financial instruments, short positions and derivatives acquired for selling or repurchasing in the near term. liabilities Derivatives financial liabilities also include derivatives issued and sold to customers. These are marked-to-market at 交易性及衍生金融资产/负债 the period end and the revaluation gains or losses are taken to the profit and loss account 企业为了在短期内出售或购回而购入的金融工具、短仓和衍生工具。衍生金融负债亦包括所发行和向客户出售的衍生工 具。这些项目于期末按公允价值计量,重估盈亏计入损益表。 15 Available-for-sale and held-to-maturity Financial assets intended to be held on a continuing basis (available-for-sale) or held-to-maturity. Available-for-sale financial assets financial assets are marked-to-market at the period end and the revaluation gains or losses are charged to reserve, 可供出售及持有至到期金融资产 unless there is impairment. Held-to-maturity financial assets are stated at amortised cost less impairment 企业计划持续持有(可供出售)或持有至到期的金融资产。可供出售金融资产于期末按公允价值计量,重估盈亏计入储备 (出现减值除外)。持有至到期金融资产则以摊余成本减去减值列账。 16 Long-term investment 长期股权投资 Equity investment in subsidiaries, associates and joint ventures, etc 子公司、联营企业、合营企业等的股权投资 17 Short-term, long-term loans and debts Short-term and long-term borrowings and debts issued by the company issued 拆入资金、短期/长期借款及公司发行债券 短期/长期借款及债券 18 Paid-in capital/Share capital 实收资本/股本 19 Reserves 储备 20 Number of branches 营业部数量 21 Number of employees 员工人数 Fully paid-up capital/ issued share capital 已缴足股本/发行股本 Capital reserve, other comprehensive income, surplus reserve, general reserve, trading risk reserve and retained earnings 资本公积、盈余公积、一般风险准备、交易风险准备、未分配利润 Total number of branches within China as at year end 年末国内营业部的总数 Total number of employees as at year end, including the senior management. 年末国内员工人数的总数,包括高级管理人员 © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
109. 二零一七年中国证券业调查报告 106 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
110. 107 Mainland China Securities Survey 2017 Appendix 2 Sector ranking for 2016 附录2 二零一六年行业排名 Company Name 公司名称 1 CITIC Securities* 中信证券* 2 Guotai Junan Securities* 国泰君安证券* 3 Haitong Securities * 海通证券* 4 GF Securities* 广发证券* 5 Huatai Securities* 华泰证券* 6 Shenwan Hongyuan Securities 申万宏源证券 7 China Merchants Securities* 招商证券* 8 China Galaxy Securities* 中国银河证券 * 9 Orient Securities* 东方证券* 10 Guosen Securities* 国信证券* 11 China Securities* 中信建投证券* 12 Everbright Securities*# 光大证券*# 13 Founder Securities* 方正证券* 14 Industrial Securities* 兴业证券* 15 Zhongtai Securities 中泰证券 16 Changjiang Securities* 长江证券* 17 Essence Securities 安信证券 18 Ping An Securities 平安证券 19 China Investment Securities 中国中投证券 20 Northeast Securities* 东北证券* Total Assets (Regulatory Consolidation) 总资产排名(专 项合并) 2016 (RMB Million) 470,596.85 341,003.56 319,144.72 308,916.76 280,677.64 225,251.01 218,779.31 217,017.19 186,732.71 168,786.16 159,236.33 137,580.69 132,153.08 110,737.23 107,155.61 100,974.11 97,737.23 86,720.67 75,692.39 70,811.92 Company Name 公司名称 1 Guotai Junan Securities* 国泰君安证券* 2 CITIC Securities* 中信证券* 3 GF Securities* 广发证券* 4 Huatai Securities* 华泰证券* 5 Haitong Securities* 海通证券* 6 Shenwan Hongyuan Securities 7 Guosen Securities* 申万宏源证券 国信证券* 8 China Merchants Securities* 招商证券* 9 China Securities* 中信建投证券* 10 China Galaxy Securities* 中国银河证券* 11 Everbright Securities*# 光大证券*# 12 Essence Securities 安信证券 13 Zhongtai Securities 中泰证券 14 Orient Securities* 东方证券* 15 Changjiang Securities* 长江证券* 16 Ping An Securities 平安证券 17 Founder Securities* 方正证券* 18 Industrial Securities* 兴业证券* 19 Huarong Securities 华融证券 20 Caitong Securities 财通证券 Net profit after tax (Regulatory Consolidation) 净利润排名(专项 合并) 2016 (RMB Million) 10,151.96 8,007.98 7,194.24 6,251.76 6,078.70 5,573.62 5,331.38 5,230.27 5,109.87 4,712.43 3,144.49 2,545.51 2,511.04 2,171.94 2,146.08 2,032.02 1,994.82 1,888.45 1,669.97 1,546.81 * denotes listed securities company # denotes Sino-foreign securities joint venture Regulatory Consolidation: Consolidation of securities companies and their securities subsidiaries Consolidation:Group consolidation of securities companies N1 (Operating revenue - investment income - fair value change through P&L)/Operating costs Sources: Securities Association of China © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
111. 二零一七年中国证券业调查报告 108 Company Name 公司名称 1 Chinalin Securities 华林证券 2 China Securities* 中信建投证券* 3 Dongguan Securities 东莞证券 4 Lianchu Securities 联储证券 5 Huarong Securities 华融证券 6 Capital Securities 首创证券 7 Hongxin Securities 宏信证券 8 Zheshang Securities* 浙商证券* 9 New Times Securities 新时代证券 10 Essence Securities 安信证券 11 Golden Sun Securities 国盛证券 12 Zhongshan Securities 中山证券 13 Shenwan Hongyuan Securities 14 Guosen Securities* 申万宏源证券 国信证券* 15 AVIC Securities Co., Ltd. 中航证券 16 Guotai Junan Securities * 国泰君安证券* 17 Caitong Securities 财通证券 18 GF Securities* 广发证券* 19 China Merchants Securities* 招商证券* 20 Xizang Eastmoney Securities 西藏东方财富 Return on net capital (Regulatory Consolidation) 净资本收益率排名 (专项合并) Company Name 公司名称 18.30% 15.72% 13.79% 13.51% 13.43% 13.11% 12.63% 12.58% 12.35% 12.10% 11.75% 11.64% 11.58% 11.26% 11.03% 10.80% 10.71% 10.49% 10.46% 10.38% 1 Golden Sun Securities 国盛证券 2 Donghai Securities 东海证券 3 China Merchants Securities* 招商证券* 4 Hongta Securities 红塔证券 5 China Securities* 中信建投证券* 6 Everbright Securities*# 光大证券*# 7 Huaxi Securities 华西证券 8 Hua An Securities* 华安证券* 9 Haitong Securities* 海通证券* 10 Guosen Securities* 国信证券* 11 AVIC Securities Co., Ltd. 中航证券 12 Xizang Eastmoney Securities 西藏东方财富 13 Fortune Securities 财富证券 14 Daton Securities 大通证券 15 Xiangcai Securities 湘财证券 16 Huatai Securities* 华泰证券* 17 GuoDu Securities 国都证券 18 BOC International (China) Limited # 19 Guolian Securities* 中银国际证券# 国联证券* 20 Nanjing Securities 南京证券 Cost management N1 (Regulatory Consolidation) 成本管理能力 排名N1(专项 合并) 2.10 2.04 1.97 1.94 1.83 1.81 1.78 1.77 1.77 1.76 1.76 1.74 1.73 1.72 1.71 1.68 1.65 1.63 1.62 1.62 * 代表上市证券公司 # 代表中外合资证券公司 专项合并:证券公司及其证券类子公司数据口径 合并口径:证券公司集团财务数据口径 N1 (营业收入-投资收益-公允价值变动收益)/营业成本 资料来源:证券业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
112. 109 Mainland China Securities Survey 2017 Sector ranking for 2016 二零一六年行业排名 Company Name 1 CITIC Securities* 公司名称 中信证券* Interest income from margin financing and securities lending business (Regulatory Consolidation) 融资融券业务利息收 入排名 (专项合并) 2016 (RMB Million) 4,625.53 2 Guotai Junan Securities* 国泰君安证券* 4,450.55 3 Huatai Securities* 华泰证券* 4,278.15 4 GF Securities* 广发证券* 4,188.84 5 China Galaxy Securities* 中国银河证券* 4,175.14 6 Shenwan Hongyuan Securities 申万宏源证券 7 China Merchants Securities* 招商证券* 4,160.90 3,890.74 8 Haitong Securities* 海通证券* 3,645.27 9 Guosen Securities* 国信证券* 3,114.45 10 China Securities* 中信建投证券* 2,329.34 11 Everbright Securities*# 光大证券*# 2,315.43 12 Founder Securities* 方正证券* 1,844.45 13 Zhongtai Securities 中泰证券 1,842.81 14 Essence Securities 安信证券 1,797.40 15 Changjiang Securities* 长江证券* 1,707.85 16 China Investment Securities 中国中投证券 1,502.72 17 Industrial Securities* 兴业证券* 948.35 18 Guoyuan Securities* 国元证券* 839.34 19 Orient Securities* 东方证券* 795.46 20 Dongxing Securities* 东兴证券* 759.77 Company Name 公司名称 1 Guotai Junan Securities* 国泰君安证券* 2 CITIC Securities* 中信证券* 3 China Galaxy Securities* 中国银河证券* 4 Shenwan Hongyuan Securities 5 Guosen Securities* 申万宏源证券 国信证券* 6 Huatai Securities* 华泰证券* 7 GF Securities* 广发证券* 8 Haitong Securities* 海通证券* 9 China Merchants Securities* 招商证券* 10 China Securities* 中信建投证券* 11 Founder Securities* 方正证券* 12 Zhongtai Securities 中泰证券 13 Essence Securities 安信证券 14 Everbright Securities*# 光大证券*# 15 China Investment Securities 中国中投证券 16 Changjiang Securities* 长江证券* 17 Ping An Securities 平安证券 18 Huaxi Securities 华西证券 19 SINOLINK Securities* 国金证券* 20 Industrial Securities* 兴业证券* Income from brokerage business (Regulatory Consolidation) 代理买卖证券收 入排名 (专项合并) 2016 (RMB Million) 6,446.27 5,592.93 5,454.19 5,241.40 5,228.90 4,934.84 4,812.51 4,391.57 4,231.64 3,384.14 3,267.38 3,089.41 2,502.21 2,445.12 2,115.78 1,884.93 1,550.78 1,474.93 1,417.74 1,369.46 * denotes listed securities company # denotes Sino-foreign securities joint venture Regulatory Consolidation: Consolidation of securities companies and their securities subsidiaries Consolidation:Group consolidation of securities companies N1 (Operating revenue - investment income - fair value change through P&L)/Operating costs Sources: Securities Association of China © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
113. 二零一七年中国证券业调查报告 110 Company Name 公司名称 1 CITIC Securities* 中信证券* 2 China Securities* 中信建投证券* 3 Guotai Junan Securities* 国泰君安证券* 4 Guosen Securities* 国信证券* 5 Haitong Securities* 海通证券* 6 GF Securities* 广发证券* 7 China Merchants Securities* 招商证券* 8 China International Capital Corporation*# 9 Shenwan Hongyuan Securities 10 Huatai Securities* 中国国际金融*# 申万宏源证券 华泰证券* 11 Everbright Securities*# 光大证券*# 12 Industrial Securities* 兴业证券* 13 Sealand Securities* 国海证券* 14 Orient Securities* 东方证券* 15 Ping An Securities 平安证券 16 SINOLINK Securities* 国金证券* 17 Essence Securities 安信证券 18 China Galaxy Securities* 中国银河证券* 19 Southwest Securities* 西南证券* 20 Great Wall Securities 长城证券 Income from under-writing and sponsorship business (Regulatory Consolidation) 证券承销与保荐 业务收入排名(专 项合并) 2016 (RMB Million) 3,546.63 3,476.45 2,667.80 2,253.29 2,072.18 2,059.14 1,690.66 1,688.36 1,551.46 1,440.37 1,155.07 1,154.43 1,146.67 1,093.24 1,088.52 1,040.48 1,019.82 895.64 861.41 858.53 Company Name 公司名称 1 CITIC Securities* 中信证券* 2 GF Securities* 广发证券* 3 China Securities* 中信建投证券* 4 China International Capital Corporation*# 5 Huatai Securities* 中国国际金融*# 华泰证券* 6 Essence Securities 安信证券 7 Shenwan Hongyuan Securities 8 Guotai Junan Securities* 申万宏源证券 国泰君安证券* 9 Southwest Securities* 西南证券* 10 Huarong Securities 华融证券 11 Guosen Securities* 国信证券* 12 Zhongtai Securities 中泰证券 13 China Merchants Securities* 招商证券* 14 Tianfeng Securities 天风证券 15 SooChow Securities* 东吴证券* 16 Northeast Securities* 东北证券* 17 Orient Securities* 东方证券* 18 Founder Securities* 方正证券* 19 Western Securities* 西部证券* 20 Haitong Securities* 海通证券* Income from financial advisory business (Regulatory Consolidation) 财务顾问业务收 入排名 (专项合并) 2016 (RMB Million) 1,394.65 1,117.38 628.57 596.54 588.93 542.39 503.71 472.09 463.67 426.17 411.98 332.82 309.07 300.98 299.60 286.84 281.84 270.51 262.03 260.25 * 代表上市证券公司 # 代表中外合资证券公司 专项合并:证券公司及其证券类子公司数据口径 合并口径:证券公司集团财务数据口径 N1 (营业收入-投资收益-公允价值变动收益)/营业成本 资料来源:证券业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
114. 111 Mainland China Securities Survey 2017 Sector ranking for 2016 二零一六年行业排名 Company Name 公司名称 1 CITIC Securities* 中信证券* 2 Guotai Junan Securities* 国泰君安证券* 3 GF Securities* 广发证券* 4 Huatai Securities* 华泰证券* 5 Shenwan Hongyuan Securities 申万宏源证券 6 China Merchants Securities* 招商证券* 7 Zhongtai Securities 中泰证券 8 Everbright Securities*# 光大证券*# 9 Huarong Securities 华融证券 10 Orient Securities* 东方证券* 11 China Securities* 中信建投证券* 12 Caitong Securities 财通证券 13 Guangzhou Securities 广州证券 14 Haitong Securities* 海通证券* 15 Changjiang Securities* 长江证券* 16 Industrial Securities* 兴业证券* 17 BOC International (China) Limited# 18 Dongxing Securities* 中银国际证券# 东兴证券* 19 Zheshang Securities* 浙商证券* 20 Tianfeng Securities 天风证券 Net income from asset management business (Regulatory Consolidation) 客户资产管理业 务净收入排名(专 项合并) 2016 (RMB Million) 2,100.42 2,061.09 1,924.50 1,711.70 1,688.61 1,063.95 973.67 905.05 898.69 894.84 849.25 784.34 708.63 624.70 619.09 607.81 601.59 595.23 571.48 445.94 Company Name 公司名称 1 CITIC Securities* 中信证券* 2 Guotai Junan Securities* 国泰君安证券* 3 Haitong Securities* 海通证券* 4 GF Securities* 广发证券* 5 Huatai Securities* 华泰证券* 6 Shenwan Hongyuan Securities 7 China Galaxy Securities* 申万宏源证券 中国银河证券* 8 China Merchants Securities* 招商证券* 9 Guosen Securities* 国信证券* 10 Everbright Securities*# 光大证券*# 11 China Securities* 中信建投证券* 12 Orient Securities* 东方证券* 13 Industrial Securities* 兴业证券* 14 Founder Securities* 方正证券* 15 Changjiang Securities* 长江证券* 16 Zhongtai Securities 中泰证券 17 Ping An Securities 平安证券 18 Dongxing Securities* 东兴证券* 19 SooChow Securities* 东吴证券* 20 China Development Bank Securities 国开证券 Net captial (Regulatory Consolidation) 净资本排名(专项 合并) 2016 (RMB Million) 98,252.77 94,653.58 87,275.73 71,264.12 61,687.70 55,627.85 54,720.47 50,048.23 46,367.91 43,327.59 36,198.48 35,840.50 33,862.06 30,162.91 25,542.00 24,891.63 20,473.50 20,022.12 19,466.09 19,173.51 * denotes listed securities company # denotes Sino-foreign securities joint venture Regulatory Consolidation: Consolidation of securities companies and their securities subsidiaries Consolidation:Group consolidation of securities companies N1 (Operating revenue - investment income - fair value change through P&L)/Operating costs Sources: Securities Association of China © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
115. 二零一七年中国证券业调查报告 112 Company Name 公司名称 Operating income (Consolidation) 营业收入排名 (合并口径) Company Name 公司名称 1 CITIC Securities* 中信证券* 2 Haitong Securities* 海通证券* 3 Guotai Junan Securities* 国泰君安证券* 4 GF Securities* 广发证券* 5 Huatai Securities* 华泰证券* 6 Shenwan Hongyuan Securities 7 China Securities* 申万宏源证券 中信建投证券* 8 China Galaxy Securities* 中国银河证券* 9 Guosen Securities* 国信证券* 10 China Merchants Securities* 招商证券* 11 Zhongtai Securities 中泰证券 12 Founder Securities* 方正证券* 13 Essence Securities 安信证券 14 Industrial Securities* 兴业证券* 15 Everbright Securities*# 光大证券*# 16 Ping An Securities 平安证券 17 China International Capital Corporation*# 18 Orient Securities* 中国国际金融*# 东方证券* 19 Changjiang Securities* 长江证券* 20 Huarong Securities 华融证券 2016 (RMB Million) 38,001.92 28,011.67 25,764.65 20,712.04 16,917.02 14,814.80 13,258.77 13,239.92 12,748.90 11,695.45 8,336.59 7,759.90 7,674.40 7,589.07 7,485.65 7,356.49 7,322.34 6,876.94 5,857.36 5,320.02 1 CITIC Securities* 中信证券* 2 Guotai Junan Securities* 国泰君安证券* 3 Huatai Securities* 华泰证券* 4 China Galaxy Securities* 中国银河证券* 5 Shenwan Hongyuan Securities 6 GF Securities* 申万宏源证券 广发证券* 7 Haitong Securities* 海通证券* 8 China Merchants Securities* 招商证券* 9 Guosen Securities* 国信证券* 10 China Securities* 中信建投证券* 11 Everbright Securities*# 光大证券*# 12 Zhongtai Securities 中泰证券 13 Founder Securities* 方正证券* 14 China Investment Securities 中国中投证券 15 Essence Securities 安信证券 16 Ping An Securities 平安证券 17 Changjiang Securities* 长江证券* 18 Orient Securities* 东方证券* 19 Industrial Securities* 兴业证券* 20 SooChow Securities* 东吴证券* Client monies held in segregated accounts (Regulatory Consolidation) 客户交易结算资 金余额 (专项合并) 2016 (RMB Million) 89,624.83 81,079.24 71,788.75 71,081.67 71,032.98 70,194.42 64,984.41 54,745.98 51,626.60 50,098.19 35,549.84 34,501.27 30,833.96 30,639.44 30,509.92 25,370.73 24,392.41 22,651.01 18,375.19 17,340.93 * 代表上市证券公司 # 代表中外合资证券公司 专项合并:证券公司及其证券类子公司数据口径 合并口径:证券公司集团财务数据口径 N1 (营业收入-投资收益-公允价值变动收益)/营业成本 资料来源:证券业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
116. 113 Mainland China Securities Survey 2017 Sector ranking for 2016 二零一六年行业排名 Company Name 公司名称 1 Ping An Securities 平安证券 2 Haitong Securities* 海通证券* 3 CITIC Securities* 中信证券* 4 China Merchants Securities* 招商证券* 5 Orient Securities* 东方证券* 6 SINOLINK Securities* 国金证券* 7 Cinda Securities 信达证券 8 China International Capital Corporation*# 9 Central China Securities* 中国国际金融*# 中原证券* 10 GF Securities* 广发证券* 11 Huatai Securities* 华泰证券* 12 Essence Securities 安信证券 13 China Development Bank Securities 14 Everbright Securities*# 国开证券 光大证券*# 15 Guosen Securities* 国信证券* 16 Tianfeng Securities 天风证券 17 Guangzhou Securities 广州证券 18 Bohai Securities 渤海证券 19 First Capital Securities* 第一创业证券* 20 SooChow Securities* 东吴证券* Net income from investment advisory business (Regulatory Consolidation) 投资咨询业务综 合收入排名(专项 合并) 2016 (RMB Million) 636.42 624.81 511.41 403.06 166.72 145.63 145.07 130.06 122.21 121.08 115.19 115.01 95.34 83.10 76.50 76.48 68.38 66.22 62.06 61.01 Company Name 公司名称 1 CITIC Securities* 中信证券* 2 China Securities* 中信建投证券* 3 GF Securities* 广发证券* 4 Huatai Securities* 华泰证券* 5 Guotai Junan Securities* 国泰君安证券* 6 China International Capital Corporation*# 7 Guosen Securities* 中国国际金融*# 国信证券* 8 Essence Securities 安信证券 9 Haitong Securities* 海通证券* 10 Shenwan Hongyuan Securities 11 SINOLINK Securities* 申万宏源证券 国金证券* 12 China Merchants Securities* 招商证券* 13 Industrial Securities* 兴业证券* 14 Shanxi Securities* 山西证券* 15 Minsheng Securities 民生证券 16 China Galaxy Securities* 中国银河证券* 17 Orient Securities* 东方证券* 18 Dongxing Securities* 东兴证券* 19 Southwest Securities* 西南证券* 20 Great Wall Securities 长城证券 21 Zhongtai Securities 中泰证券 22 Guoyuan Securities* 国元证券* Numbers of project for equities underwriting (Regulatory Consolidation) 股票主承销家数 排名 (专项合并) 74 66 53 45 40 33 32 32 30 28 28 26 20 20 20 16 15 15 14 14 14 14 * denotes listed securities company # denotes Sino-foreign securities joint venture Regulatory Consolidation: Consolidation of securities companies and their securities subsidiaries Consolidation:Group consolidation of securities companies N1 (Operating revenue - investment income - fair value change through P&L)/Operating costs Sources: Securities Association of China © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
117. Company Name 公司名称 1 China Securities* 中信建投证券* 2 Guotai Junan Securities* 国泰君安证券* 3 CITIC Securities* 中信证券* 4 China Merchants Securities* 招商证券* 5 Haitong Securities* 海通证券* 6 Sealand Securities* 国海证券* 7 GF Securities* 广发证券* 8 Industrial Securities* 兴业证券* 9 Everbright Securities*# 光大证券*# 10 Ping An Securities 平安证券 11 Zhongshan Securities 中山证券 12 Guosen Securities* 国信证券* 13 Huatai Securities* 华泰证券* 14 Shenwan Hongyuan Securities 15 China Development Bank Securities 16 Tianfeng Securities 申万宏源证券 国开证券 天风证券 17 China International Capital Corporation*# 18 Great Wall Securities 中国国际金融*# 长城证券 19 Tebon Securities 德邦证券 20 BOC International (China) Limited# 中银国际证券# Numbers of project for bonds underwriting (Regulatory Consolidation) 债券主承销家数 排名 (专项合并) 322 217 173 173 155 127 124 120 116 115 105 99 89 86 74 71 69 66 64 63 二零一七年中国证券业调查报告 114 * 代表上市证券公司 # 代表中外合资证券公司 专项合并:证券公司及其证券类子公司数据口径 合并口径:证券公司集团财务数据口径 N1 (营业收入-投资收益-公允价值变动收益)/营业成本 资料来源:证券业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
118. 115 Mainland China Securities Survey 2017 Appendix 3 Overview of Sino-foreign securities joint ventures 附录3 中外合资证券公司一览 Number 序号 Date of establishment 成立时间 (Month/Year) (月份/年份) 1 07/1995 JV securities companies 合资证券公司名称 China International Capital Corporation* 中国国际金融* 2 04/1996 Everbright Securities* 光大证券* 3 02/2002 BOC International (China) 中银国 际证劵 4 12/2004 Goldman Sachs Gaohua Securities 高盛高华证劵 Foreign partner(s) 外方投资者 Chinese partner(s) 中方投资者 GIC Private Limited 新加坡政府投资有限公司 (11.84%) TPG Asia V Delaware, L.P. (7.45%) KKR Institutions Investment (7.23%) Mingly Corporation名力集团 (5.31%) The Great Eastern Life Assurance Company Limited (3.61%) Central Huijin Investment Ltd.中央汇金投资有限 责任公司 (28.45%) China National Investment & Guaranty Corporation 中国投融资担保有限公司 (5.53%) Other entities 其他机构 (0.12%) Public shareholders 社会公众股 (30.46%) China Everbright Limited 中国光大控股有限公 司 (24.71%) China Everbright Group 中国光大(集团)总公司 (25.15%) Public shareholders 社会公众股 (50.14%) BOC International Holdings中银国际控股有限公 司 (37.14%) China National Petroleum Corporation 中国石油 天然气集 团公司 (15.92%) Shanghai Financial Development Investment Fund (Limited Partnership) 上海金融发展投资基 金(有限合伙) (10.53%) Yunnan Investment Group 云南省投资控股集团 有限公司(9.09%) Jiangxi Copper Co., Ltd. 江西铜业股份有限公 司 (5.26%) Other entities 其他机构 (22.06%) Goldman Sachs (Asia) 高盛 (亚洲) (33%) Beijing Gaohua Securities 北京高华证券 (67%) 5 12/2006 UBS Securities 瑞银证劵 (Via acquisition) (通过收购) UBS AG 瑞士银行有限公司 (24.99%) Guo Xiang Asset Management 北京国翔资产管 理有限公司 (33%) COFCO 中粮集团 (14%) China Guodian Capital Holding 国电资本控股 (14%) Guangdong Communications Group 广东省交 通集团有限公司(14.01%) 6 10/2008 Credit Suisse-Founder Securities Credit Suisse AG 瑞士信贷银行股份有限公司 Founder Securities *方正证券* (66.7%) 瑞信方正证券 (33.3%) 7 07/2009 Zhong De Securities 中德证券 Deutsche Bank AG 德意志银行股份有限公司 Shanxi Securities* 山西证券* (66.7%) (33.3%) 8 05/2011 Huaying Securities (Note 1) 华英证券 (注释1) RBS 苏格兰皇家银行公众有限公司(33.3%) Guolian Securities* 国联证券* (66.7%) 9 05/2011 Morgan Stanley Huaxin Securities Morgan Stanley 摩根士丹利亚洲有限公司 China Fortune Securities 华鑫证券 (66.7%) 摩根士丹利华鑫证券 (33.3%) 10 06/2011 J.P. Morgan First Capital Securities (Note 2) 第一创业摩根大通证券(注释2) J.P. Morgan Broking (Hong Kong) Limited (33.3%) First Capital Securities* 第一创业证券* (66.7%) 11 06/2012 Citi Orient Securities 东方花旗证券 Citigroup Global Markets Asia Limited 花旗亚洲 Orient Securities* 东方证券* (66.7%) (33.3%) 12 04/2016 Shengang Securities 申港证券 Mason Group Holding Limited 茂宸集团控股有限 公司(15%) Freeman Securities 民众证券(15%) Sailing Capital Management CO., Ltd. 赛领国际 投资基金(上海)有限公司(10%) Changjia Group Intl Holding Limited 上海长甲投 资有限公司(10%) Zhongchengxin Investment Co.,Ltd 中诚信投资 集团有限公司(10%) Beijing Guoze Capital Management Co.,Ltd 北京 国泽资本管理有限公司(10%) Other entities 其他机构 (30%) 13 08/2016 China Renaissance Securities 华菁 证券 Maxson Securities Limited 万诚证券有限公司 (49.0%) Shanghai Enlight Investment 上海光线投资控股 有限公司 (46.1%) Wuxi Qunxing Equity Investment Management 无锡群兴股权投资管理有限公司 (4.9%) Note1 RBS plans to transfer the shares to Guolian Securities, the transaction is still under process. 注释1 苏格兰皇家银行公众有限公司已同意出售华英证券的33.3%股权给国联证券。该项交易仍在进行中。 Note2 J.P. Morgan Broking (Hong Kong) Limited plans to transfer the shares to First Capital Securities, the transaction is still under process. 注释2 J.P. Morgan Broking (Hong Kong) Limited已同意出售第一创业摩根大通证券的33.3%股权给第一创业证券。该项交易仍在进行中。 Source: 2016 annual reports of securities companies and publicly available information 资料来源:证券公司2016年年报及公开资料 * denotes listed securities company * 代表上市证券公司 © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
119. 二零一七年中国证券业调查报告 116 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
120. 117 Mainland China Securities Survey 2017 Appendix 4 2017 grading of securities companies by the CSRC 附录4 2017年证监会对证券公司的评级 中国银河证券 * 中信建投证券* 国泰君安证券* 华泰证券* 北京高华证券 财通证券 国开证券 东海证券 广州证券 红塔证券 民生证券 太平洋证券* 东吴证券* 浙商证券* 财达证券 中邮证券 东方财富 国盛证券 国都证券 兴业证券* 东北证券* 万联证券 英大证券 中天证券 中航证券 大同证券 国融证券 五矿证券 首创证券 九州证券 国海证券* China Galaxy Securities * China Securities * AAA grade AAA 级别 Nil 无 AA grade (11 brokers) AA 级别 (11家) 中国国际金融*# China International Capital Corporation*# 中信证券* CITIC Securities * 招商证券* 广发证券* Guotai Junan Securities * 海通证券* Haitong Securities * 华融证券 Huatai Securities * Beijing Gao Hua Securities Caitong Securities China Development Bank Securities Donghai Securities Guangzhou Securities Hongta Securities Minsheng Securities Pacific Securities * SooChow Securities * Zheshang Securities* Caida Securities China Post Securities Eastmoney Securities Golden Sun Securities GuoDu Securities Industrial Securities * Northeast Securities * Wanlian Securities Yingda Securities Zhongtian Securities AVIC Securities Co., Ltd. Datong Securities Brokerage Guorong Securities Minmetals Securities Brokerage Capital Securities JZ Securities Sealand Securities * 申万宏源证券 中银国际证券# 中原证券* Shenwan Hongyuan Securities A grade (29 brokers) A 级别 (29家) BOC International (China) Limited # Central China Securities * 渤海证券 长江证券* 华林证券 Chinalion Securities 东莞证券 安信证券 Essence Securities 国信证券* Guosen Securities * 华安证券* Hua An Securities * 南京证券 Nanjing Securities 平安证券 Ping An Securities 天风证券 Tianfeng Securities 中泰证券 Zhongtai Securities BBB grade (28 brokers) BBB 级别 (28家) 华龙证券 China Dragon Securities 大通证券 Daton Securities 第一创业证券* First Capital Securities * 金元证券 Goldstate Securities 国联证券* Guolian Securities * 江海证券 Jianghai Securities Brokerage 申港证券# Shengang Securities # 西部证券* Western Securities * 银泰证券 Yintai Securities 光大证券*# 国元证券* 华福证券 东方证券* 国金证券 * 华西证券 华鑫证券 东兴证券* 华宝证券 长城证券 海际证券 联储证券 瑞银证券# 湘财证券 中山证券 华信证券 财富证券 华创证券 德邦证券 川财证券 联讯证券 山西证券* BB grade (12 brokers) BB 级别 (12家) CEFC Shanghai Securites Limited Fortune Securities HuaChuang Securities Brokerage Tebon Securities B grade (8 brokers) B 级别 (8家) Chuancai Securities LianXun Securities Shanxi Securities * 世纪证券 长城国瑞证券 开源证券 万和证券 华菁证券# 网信证券 China Merchants Securities * GF Securities * Huarong Securities Bohai Securities Changjiang Securities * Dongguan Securities Everbright Securities *# Guoyuan Securities * Huafu Securities Orient Securities * SINOLINK Securities * West China Securities China Fortune Securities Dongxing Securities * Fortune Securities Brokerage Great Wall Securities Haiji Securities Lian Chu Securities UBS Securities # Xiangcai Securities Zhongshan Securities Century Securities Great Wall Glory Securities Kaiyuan Securities Wanhe Securities China Renaissance Securities # N-Securities * denotes listed securities company # denotes Sino-foreign securities joint venture Source: CSRC © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
121. 二零一七年中国证券业调查报告 118 中国中投证券 华金证券 China Investment Securities 恒泰证券* Huajin Securities 爱建证券 Aijian Securities 信达证券 方正证券* Founder Securities * 西南证券* CCC grade (4 brokers) CCC 级别 (4家) Hengtai Securities * CC grade (3 brokers) CC 级别 (3家) Cinda Securities C grade (2 brokers) C 级别 (2家) Southwest Securities * 宏信证券 新时代证券 Hongxin Securities New Times Securities 32 out of 129 securities brokers are assigned with their parent companies’ rating. These companies are Goldman Sachs Gao Hua Securities (parent: Beijing Gao Hua Securities), Changjiang Financing Services and Changjiang Securities Asset Management Co,Ltd (parent: Changjiang Securities), J.P. Morgan First Capital Securities (parent: First Capital Securities), Orient Securities Asset Management Co., Ltd and Citi Orient Securities Co., Ltd (parent: Orient Securities), Credit Suisse Founder Securities and China Minzu Securities (parent: Founder Securities), Everbright Securities Asset Management Co., Ltd (parent: Everbright Securities), GF Securities Asset Management (Guangdong) (parent: GF Securities), Huaying Securities (parent: Guolian Securities), GuoTai JunAn Securities Asset Management Co., Ltd, Shanghai Securities (parent: Guotai Junan Securities), Haitong Securities Asset Management Co.,Ltd (parent: Haitong Securities), Hengtai changcai Securities (parent: Hengtai Securities), Huatai United Securities and Huatai Securities Asset Management Co.,Ltd (parent: Huatai Securities), Morgan Stanley Huaxin Securities (parent: China Fortune Securities), Qilu Securities Asset Management Co., Ltd. (parent: Zhongtai Securities), Zhongde Securities (parent: Shanxi Securities), Industrial Asset Management Co., Ltd (parent: Industrial Securities), Galaxy Jinhui Asset management Co., Ltd (parent: China Galaxy Securities), Zhejiang Zheshang Securities Asset Management Co., Ltd. (parent: Zheshang Securities), CITIC Securities (Shandong) and CITIC-Kinton Securities (parent:CITIC Securities), China Merchants Securities Asset Management Co.,Ltd (parent: China Merchants Securities), Caitong Securities Asset Management Co.,Ltd (parent: Caitong Securities), Golden Sun Securities Asset Management Co.,Ltd (parent: Golden Sun Securities), Shenwan Hongyuan Financing Services and Shenwan Hongyuan (Western) (parent: Shenwan Hongyuan Securities), Northeast Securities Ronghui Asset Management Co.,Ltd (parent: Northeast Securities), Bohai Huijin Asset Management Co.,Ltd (parent: Bohai Securities). 今年129家公司中,有32家公司按规定与其母公司合并评价,即:高盛高华(母公司北京高华)、长江保荐、长江证券资产管理(母公司长江证券)、第一创业摩根大通证券(母 公司第一创业)、东方证券资产管理、东方花旗证券(母公司东方证券)、瑞信方正、民族证券(母公司方正证券)、光大证券资产管理(母公司光大证券)、广发证券资产管理( 母公司广发证券)、华英证券(母公司国联证券)、国泰君安证券资产管理、上海证券(母公司国泰君安证券)、海通证券资产管理(母公司海通证券)、恒泰长财(母公司恒泰证 券)、华泰联合、华泰证券资产管理(母公司华泰证券)、摩根士丹利华鑫证券(母公司华鑫证券)、齐鲁证券资产管理(母公司中泰证券)、中德证券(母公司山西证券)、兴证证 券资产管理(母公司兴业证券)、银河金汇证券资产管理(母公司银河证券)、浙商证券资产管理(母公司浙商证券)、中信证券(山东)、金通证券(母公司中信证券)、招商证券 资产管理(母公司招商证券)、财通证券资产管理(母公司财通证券)、国盛证券资产管理(母公司国盛证券)、申万宏源承销保荐、申万宏源西部(母公司申万宏源)、东证融汇 资产管理(母公司东北证券)、渤海汇金资产管理(母公司渤海证券)。 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:中国证监会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
122. 119 Mainland China Securities Survey 2017 Appendix 5 Qualified Foreign Institutional Investors 附录5 合格境外机构投资者 List of QFIIs approved by the CSRC (26 May 2017) 截至2017年5月26日获证监会批准的合格境外机构投资者名单 Number 机构名称 序号 1 瑞士银行 2 野村证券株式会社 3 摩根士丹利国际股份有限公司 4 花旗环球金融有限公司 5 高盛公司 6 德意志银行 7 香港上海汇丰银行有限公司 8 荷兰安智银行股份有限公司 9 摩根大通银行 10 瑞士信贷(香港)有限公司 11 渣打银行(香港)有限公司 12 日兴资产管理有限公司 13 美林国际 14 恒生银行有限公司 15 大和证券资本市场株式会社 16 比尔及梅林达盖茨信托基金会 17 景顺资产管理有限公司 18 苏格兰皇家银行有限公司 19 法国兴业银行 20 巴克莱银行 21 德国商业银行 22 法国巴黎银行 23 加拿大鲍尔公司 24 东方汇理银行 25 高盛国际资产管理公司 26 马丁可利投资管理有限公司 Institution name UBS AG QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) 23/05/2003 2,190 Nomura Securities Co.,Ltd. 23/05/2003 350 Morgan Stanley & Co. International PLC. 05/06/2003 600 Citigroup Global Markets Limited 05/06/2003 550 Goldman Sachs&Co. LLC 04/07/2003 900 Deutsche Bank Aktiengesellschaft 30/07/2003 600 The Hongkong and Shanghai Banking Corporation Limited 04/08/2003 600 ING Bank N.V. 10/09/2003 70 JPMorgan Chase Bank, National Association 30/09/2003 600 Credit Suisse (Hong Kong) Limited 24/10/2003 600 Standard Chartered Bank (Hong Kong) Limited 11/12/2003 175 Nikko Asset Management Co.,Ltd. 11/12/2003 450 Merrill Lynch International 30/04/2004 650 Hang Seng Bank Limited 10/05/2004 150 Daiwa Securities Capital Market 10/05/2004 50 Bill & Melinda Gates Foundation Trust 19/07/2004 400 INVESCO Asset Management Limited 04/08/2004 125 The Royal Bank of Scotland N.V. 02/09/2004 20 Société Générale 02/09/2004 1,700 Barclays Bank PLC 15/09/2004 352 Commerzbank AG 27/09/2004 20 BNP Paribas 29/09/2004 350 Power Corporation of Canada 15/10/2004 50 Credit Agrigole Corporate and Investment Bank 15/10/2004 75 Goldman Sachs Asset Management International 09/05/2005 302 Martin Currie Investment Management Ltd 25/10/2005 76 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
123. 二零一七年中国证券业调查报告 120 Number 机构名称 序号 27 新加坡政府投资有限公司 28 柏瑞投资有限责任公司 29 淡马锡富敦投资有限公司 30 JF资产管理有限公司 31 日本第一生命保险株式会社 32 星展银行有限公司 33 安保资本投资有限公司 34 加拿大丰业银行 35 比联金融产品英国有限公司 36 爱德蒙得洛希尔(法国) 37 耶鲁大学 38 摩根士丹利投资管理公司 39 瀚亚投资(香港)有限公司 40 斯坦福大学 41 通用电气资产管理公司 42 大华银行有限公司 43 施罗德投资管理有限公司 44 汇丰环球投资管理(香港)有限公司 45 瑞穗证券株式会社 46 瑞银资产管理(新加坡)有限公司 47 三井住友资产管理株式会社 48 挪威中央银行 49 百达资产管理有限公司 50 哥伦比亚大学 51 荷宝基金管理公司 52 道富环球投资管理亚洲有限公司 Institution name GIC Private Limited QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) 25/10/2005 1,500 PineBridge Investment LLC 14/11/2005 292 Temasek Fullerton Alpha Pte Ltd 15/11/2005 1,500 JF Asset Management Limited 28/12/2005 1,525 The Dai-ichi Life Insurance Company, Limited 28/12/2005 250 DBS Bank Ltd 13/02/2006 200 AMP Capital Investors Limited 10/04/2006 500 The Bank of Nova Scotia 10/04/2006 85 KBC Financial Products UK Limited 10/04/2006 20 Edmond de Rothschild(France) 10/04/2006 200 Yale University 14/04/2006 150 Morgan Stanley Investment Management Inc. 07/07/2006 338 Eastspring Investment(Hong Kong) Limited 07/07/2006 350 Stanford University 05/08/2006 80 GE Asset Management Incorporated 05/08/2006 300 United Overseas Bank Limited 05/08/2006 50 Schroder Investment Mangement Limited 29/08/2006 425 HSBC Global Asset Management (Hong Kong) Limited 05/09/2006 300 Mizuho Securities Co.,Ltd 05/09/2006 50 UBS Asset Management (Singapore) Ltd 25/09/2006 750 Sumitomo Mitsui Asset Management Company, Limited 25/09/2006 279 Norges Bank 24/10/2006 2,500 Pictet Asset Management Limited 25/10/2006 108 The Trustees of Columbia University in the City of New York 12/03/2008 20 Robeco Institutional Asset management B.V. 05/05/2008 126 State Street Global Advisors Asia Limited 16/05/2008 50 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
124. 121 Mainland China Securities Survey 2017 Qualified Foreign Institutional Investors 合格境外机构投资者 Number 机构名称 序号 53 铂金投资管理有限公司 54 比利时联合资产管理有限公司 55 未来资产基金管理公司 56 安达国际控股有限公司 57 魁北克储蓄投资集团 58 哈佛大学 59 三星资产运用株式会社 60 联博有限公司 61 华侨银行有限公司 62 首域投资管理(英国)有限公司 63 大和证券投资信托株式会社 64 壳牌资产管理有限公司 65 普信投资公司 66 瑞士信贷银行股份有限公司 67 大华资产管理有限公司 68 阿布达比投资局 69 安联环球投资有限公司 70 资本国际公司 71 三菱日联摩根士丹利证券股份有限公司 72 韩华资产运用株式会社 73 安石股票投资管理(美国)有限公司 74 DWS投资管理有限公司 75 韩国产业银行 76 韩国友利银行股份有限公司 77 马来西亚国家银行 78 罗祖儒投资管理(香港)有限公司 79 邓普顿投资顾问有限公司 80 东亚联丰投资管理有限公司 81 三井住友信托银行股份有限公司 Institution name Platinum Investment Company Limited KBC Asset Management N.V. Mirae Asset Global Investments Co., Ltd. Chubb INA International Holdings Ltd. Caisse de dépôt et placement du Québec President and Fellows of Harvard College Samsung Investment Trust Management Co., Ltd. AllianceBernstein Limited Oversea-Chinese Banking Corporation Limited First State Investment Management (UK) Limited DAIWA Asset Management Co. Shell Asset Management Company B.V. T. Rowe Price Associates, Inc. Credit Suisse AG UOB Asset Management Ltd ABU Dhabi Investment Authority Allianz Global Investors GmbH Capital International, Inc. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Hanwha Investment Trust Management Co., Ltd. Ashmore Equities Investment Management(US) LLC DWS Investment S.A. The Korea Development Bank Woori Bank Co., Ltd Bank Negara Malaysia Lloyd George Management (Hong Kong) Limited Templeton Investment Counsel, LLC BEA Union Investment Management Limited The Sumitomo Trust & Banking Co., Ltd. QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) 02/06/2008 300 02/06/2008 210 25/07/2008 350 05/08/2008 150 22/08/2008 650 22/08/2008 50 25/08/2008 650 28/08/2008 150 28/08/2008 78 11/09/2008 630 11/09/2008 200 12/09/2008 Pending待批准 12/09/2008 160 14/10/2008 300 28/11/2008 50 03/12/2008 2,500 16/12/2008 200 18/12/2008 100 29/12/2008 100 05/02/2009 238 10/02/2009 25 24/02/2009 200 23/04/2009 140 04/05/2009 50 19/05/2009 1,500 27/05/2009 50 05/06/2009 300 18/06/2009 100 26/06/2009 50 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
125. 二零一七年中国证券业调查报告 122 Number 机构名称 序号 82 韩国投资信托运用株式会社 83 霸菱资产管理有限公司 84 安石投资管理有限公司 85 纽约梅隆资产管理国际有限公司 86 宏利资产管理(香港)有限公司 87 野村资产管理株式会社 88 东洋资产运用(株) 89 加拿大皇家银行 90 英杰华投资集团全球服务有限公司 91 常青藤资产管理公司 92 达以安资产管理公司 93 法国欧菲资产管理公司 94 安本亚洲资产管理公司 95 KB资产运用 96 富达基金(香港)有限公司 97 美盛投资(欧洲)有限公司 98 香港金融管理局 99 富邦证券投资信托股份有限公司 100 群益证券投资信托股份有限公司 101 蒙特利尔银行投资公司 102 瑞士宝盛银行 103 科提比资产运用株式会社 104 领先资产管理 105 元大证券投资信托股份有限公司 106 忠利保险有限公司 107 西班牙对外银行有限公司 108 国泰证券投资信托股份有限公司 109 复华证券投资信托股份有限公司 110 亢简资产管理公司 Institution name Korea Investment Trust Management Co., Ltd Baring Asset Management Limited Ashmore Investment Management Limited BNY Mellon Asset Management International Limited Manulife Asset Management (Hong Kong) Limited Nomura Asset Management CO., LTD Tongyang Asset Management Corp. Royal Bank of Canada Aviva Investors Global Services Limited Ivy Investment Management Company DIAM Co., Ltd. OFI Asset Management Aberdeen Asset Management Asia Limited KB Asset Management Co., Ltd. Fidelity Investments Management (Hong Kong) Limited Legg Mason Investements (Europe) Limited Hong Kong Monetary Authority Fubon Asset Management Co., Ltd. Capital Securities Investment Trust Corporation BMO Investments Inc. Bank Julius Bear & Co.,Ltd KTB Asset Management Co.,Ltd Lyxor Asset Management Yuanta Securities Investment Trust Co.,Ltd. Assicurazioni Generali S.p.A. Banco Bilbao Vizcaya Argentaria, S.A. Cathay Securities Investment Trust Co., Ltd. Fuh Hwa Securities Investment Trust Co. Ltd. Comgest S.A. QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) 21/07/2009 300 06/08/2009 200 14/09/2009 350 06/11/2009 Pending待批准 20/11/2009 300 23/11/2009 350 11/12/2009 70 23/12/2009 100 28/12/2009 18 08/02/2010 100 20/04/2010 100 21/05/2010 150 06/07/2010 77 09/08/2010 350 01/09/2010 1,200 08/10/2010 200 27/10/2010 2,500 29/10/2010 1,000 29/10/2010 550 06/12/2010 Pending待批准 14/12/2010 150 28/12/2010 Pending待批准 16/02/2011 100 04/03/2011 700 18/03/2011 83 06/05/2011 100 09/06/2011 1,050 09/06/2011 300 24/06/2011 100 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
126. 123 Mainland China Securities Survey 2017 Qualified Foreign Institutional Investors 合格境外机构投资者 Number 机构名称 序号 111 东方汇理资产管理香港有限公司 112 贝莱德机构信托公司 113 GMO有限责任公司 114 新加坡金融管理局 115 中国人寿保险股份有限公司(台湾) 116 新光人寿保险股份有限公司 117 普林斯顿大学 118 新光投信株式会社 119 加拿大年金计划投资委员会 120 泛达公司 121 瀚博环球投资公司 122 安耐德合伙人有限公司 123 泰国银行 124 科威特政府投资局 125 北美信托环球投资公司 126 台湾人寿保险股份有限公司 127 韩国银行 128 安大略省教师养老金计划委员会 129 韩国投资公司 130 罗素投资爱尔兰有限公司 131 迈世勒资产管理有限责任公司 132 华宜资产运用有限公司 133 新韩法国巴黎资产运用株式会社 134 家庭医生退休基金 135 国民年金公团(韩国) 136 三商美邦人寿保险股份有限公司 137 保德信证券投资信托股份有限公司 138 信安环球投资有限公司 139 医院管理局公积金计划 Institution name QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) Amundi Hong Kong Limited 14/07/2011 100 BlackRock Institutional Trust Company, N.A. 14/07/2011 250 Grantham, Mayo, Van Otterloo & Co.LLC 09/08/2011 50 Monetary Authority of Singapore 08/10/2011 100 China Life Insurance Co., Ltd.(Taiwan) 26/10/2011 550 Shin Kong Life Insurance Co., Ltd. 26/10/2011 300 Princeton University 25/11/2011 210 Shinko Asset Management Co., Ltd. 25/11/2011 100 Canada Pension Plan Investment Board 09/12/2011 1,200 Van Eck Associates Corporation 09/12/2011 Pending待批准 Hansberger Global Investors, Inc. 13/12/2011 Pending待批准 EARNEST Partners LLC 13/12/2011 150 Bank of Thailand 16/12/2011 300 Kuwait Investment Authority 21/12/2011 1,500 Northern Trust Global Investments Limited 21/12/2011 Pending待批准 Taiwan Life Insurance Co., Ltd. 21/12/2011 400 The Bank of Korea 21/12/2011 900 Ontario Teachers' Pension Plan Board 22/12/2011 300 Korea Investment Corporation 28/12/2011 400 Russell Investments Ireland Limited 28/12/2011 200 Metzler Asset Management GmbH 31/12/2011 200 HI Asset Management Co., Linmited. 31/12/2011 100 Shinhan BNP Paribas Asset Management Co., Ltd. 05/01/2012 150 Stichting Pensioenfonds voor Huisartsen 05/01/2012 60 National Pension Service 05/01/2012 400 Mercuries Life Insurance Co,Ltd 30/01/2012 50 Prudential Financial Securities Investment Trust Enterprise 31/01/2012 120 Principal Global Investors LLC 31/01/2012 150 Hospital Authority Provident Fund Scheme 31/01/2012 100 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
127. 二零一七年中国证券业调查报告 124 Number 机构名称 序号 140 全球人寿保险股份有限公司 141 大众信托基金有限公司 142 明治安田资产管理有限公司 143 国泰人寿保险股份有限公司 144 三井住友银行株式会社 145 富邦人寿保险股份有限公司 146 友邦保险有限公司 147 纽伯格伯曼欧洲有限公司 148 马来西亚国库控股公司 149 资金研究与管理公司 150 日本东京海上资产管理株式会社 151 韩亚金融投资株式会社 152 兴元资产管理有限公司 153 伦敦市投资管理有限公司 154 摩根资产管理(英国)有限公司 155 冈三资产管理股份有限公司 156 预知投资管理公司 157 东部资产运用株式会社 158 骏利资产管理有限公司 159 瑞穗投信投资顾问有限公司 160 瀚森全球投资有限公司 161 欧利盛资产管理有限公司 162 中银国际英国保诚资产管理有限公司 163 富敦资金管理有限公司 164 利安资金管理公司 165 忠利银行基金管理卢森堡有限责任公司 166 威廉博莱公司 167 天达资产管理有限公司 168 安智投资管理亚太(香港)有限公司 Institution name QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) TransGlobe Life Insurance Inc. 03/02/2012 150 Public Mutual Berhad 03/02/2012 60 Meiji Yasuda Asset Management Company Ltd. 27/02/2012 Pending待批准 Cathay Life Insurance Co., LTD. 28/02/2012 1,000 Sumitomo Mitsui Banking Corporation 28/02/2012 100 Fubon Life Insurance Co. Ltd 01/03/2012 1,500 AIA Company Limited 05/03/2012 150 Neuberger Berman Europe Limited 05/03/2012 175 KHAZANAH NASIONAL BERHAD 07/03/2012 500 Capital Research and Management Company 09/03/2012 100 Tokio Marine Asset Management Co.,Ltd 14/03/2012 Pending待批准 Hana Financial Investment Co.,Ltd 29/03/2012 130 Genesis Asset Managers,LLP 30/03/2012 400 City of London Investment Managementi Company Limited 30/03/2012 53 JPMorgan Asset Management (UK) Limited 30/03/2012 Pending待批准 Okasan Asset Management Co.,Ltd 30/03/2012 50 Prescient Investment Management PTY LTD 18/04/2012 150 Dongbu Asset Management Co.,Ltd. 20/04/2012 120 Janus Capital Management LLC 20/04/2012 28 Mizuho Asset Management Co., Ltd. 26/04/2012 100 Henderson Global Investors Limited 28/04/2012 25 Eurizon Capital S.A. 02/05/2012 100 BOCI-Prudential Asset Management Limited 03/05/2012 71 Fullerton Fund Management Company Ltd 04/05/2012 250 Lion Global Investors Limited 07/05/2012 50 BG FUND MANAGEMENT LUXEMBOURG S.A. 23/05/2012 100 William Blair & Company,L.L.C. 24/05/2012 200 Investec Asset Management Limited ING Investment Management Aisa Pacific (Hong Kong) Limited 28/05/2012 04/06/2012 100 Pending待批准 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
128. 125 Mainland China Securities Survey 2017 Qualified Foreign Institutional Investors 合格境外机构投资者 Number 机构名称 序号 169 三菱日联国际资产管理公司 170 中银集团人寿保险有限公司 171 霍尓资本有限公司 172 得克萨斯大学体系董事会 173 南山人寿保险股份有限公司 174 SUVA瑞士国家工伤保险机构 175 不列颠哥伦比亚省投资管理公司 176 惠理基金管理香港有限公司 177 安大略退休金管理委员会 178 教会养老基金 179 麦格理银行有限公司 180 瑞典第二国家养老金 181 海通资产管理(香港)有限公司 182 IDG资本管理(香港)有限公司 183 杜克大学 184 卡塔尔控股有限责任公司 185 瑞士盈丰银行股份有限公司 186 海拓投资管理公司 187 奥博医疗顾问有限公司 188 新思路投资有限公司 189 贝莱德资产管理北亚有限公司 190 摩根证券投资信托股份有限公司 191 全球保险集团美国投资管理有限公司 192 鼎晖投资咨询新加坡有限公司 193 瑞典北欧斯安银行有限公司 194 嘉实国际资产管理有限公司 195 灰石投资管理有限公司 196 统一证券投资信托股份有限公司 197 大和住银投信投资顾问株式会社 Institution name Mitsubishi UFJ Kokusai Asset Management Co., Ltd. BOC Group Life Assurance Company Limited Hall Capital Partners LLC Board of Regents of The University of Texas System Nan Shan Life Insurance Company,Ltd. Suva British Columbia Investment Management Corporation Value Partners Hong Kong Limited Ontario Pension Board The Church Pension Fund Macquarie Bank Limited Andra AP-fonden Hai Tong Asset Management (HK) Limited IDG CAPITAL MANAGEMENT (HK) LIMITED Duke University Qatar Holding LLC EFG Bank AG Cutwater Investor Services Corporation OrbiMed Advisors LLC New Silk Road Investment Pte. Ltd. BlackRock Asset Management North Asia Limited JPMorgan Asset Management Taiwan AEGON USA Investment Management, LLC CDH Investment Advisory Private Limited Skandinaviska Enskilda Banken AB(publ) Harvest Global Investments Limited Greystone Managed Investments Inc. Uni-President Assets Management Corporation Daiwa SB Investments Ltd. QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) 04/06/2012 100 12/07/2012 64 06/08/2012 265 06/08/2012 150 06/08/2012 600 13/08/2012 220 17/08/2012 500 21/08/2012 200 29/08/2012 150 31/08/2012 50 04/09/2012 800 20/09/2012 655 20/09/2012 100 20/09/2012 60 24/09/2012 100 25/09/2012 1,000 26/09/2012 60 26/10/2012 Pending待批准 26/10/2012 100 26/10/2012 50 26/10/2012 1,000 05/11/2012 290 05/11/2012 100 07/11/2012 805 12/11/2012 31 12/11/2012 200 21/11/2012 20 21/11/2012 150 19/11/2012 Pending待批准 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
129. 二零一七年中国证券业调查报告 126 Number 机构名称 序号 198 毕盛资产管理有限公司 199 中信证券国际投资管理(香港)有限公司 200 太平洋投资策略有限公司 201 易方达资产管理(香港)有限公司 202 高瓴资本管理有限公司 203 永丰证券投资信托股份有限公司 204 华夏基金(香港)有限公司 205 宜思投资管理有限责任公司 206 第一金证券投资信托股份有限公司 207 太平洋投资管理公司亚洲私营有限公司 208 瑞银资产管理(香港)有限公司 209 南方东英资产管理有限公司 210 EJS投资管理有限公司 211 国泰君安资产管理(亚洲)有限公司 212 泰康资产管理(香港)有限公司 213 招商证券资产管理(香港)有限公司 214 国民证券株式会社 215 工银亚洲投资管理有限公司 216 亚洲资本再保险集团私人有限公司 217 AZ基金管理股份有限公司 218 台新证券投资信托股份有限公司 219 海富通资产管理(香港)有限公司 220 汇丰中华证券投资信托股份有限公司 221 太平资产管理(香港)有限公司 222 中国国际金融香港资产管理有限公司 223 中国光大资产管理有限公司 224 博时基金(国际)有限公司 225 兆丰国际证券投资信托股份有限公司 226 法国巴黎投资管理亚洲有限公司 Institution name QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) APS Asset Management Pte Ltd 27/11/2012 230 CITIC Securities International Investment Management (HK) Limited 11/12/2012 300 Pacific Alliance Investment Management (HK) Limited 11/12/2012 400 E Fund Management (Hongkong) Co.,Limited 11/12/2012 698 Hillhouse Capital Management Pte. Ltd. 11/12/2012 900 SinoPac Securities Investment Trust Co.,Ltd 13/12/2012 103 China Asset Management (Hong Kong) Limited 25/12/2012 200 East Capital AB 07/01/2013 100 First Securities Investment Trust Co., Ltd. 24/01/2013 74 PIMCO Asia Pte Ltd 24/01/2013 100 UBS Asset Management (Hong Kong ) Ltd 24/01/2013 100 CSOP Asset Management Limited 31/01/2013 200 EJS Investment Management S.A. 31/01/2013 50 Guotai Junan Assets (Asia) Limited 21/02/2013 Pending待批准 Taikang Asset Management (HK) Company Limited 22/02/2013 1,830 CMS Asset Management (HK) Co., Limited 22/02/2013 720 KB Securities co., Ltd. 22/03/2013 100 ICBC (Asia) Investment Management Company Limited 25/03/2013 22 Asia Capital Reinsurance Group Pte. Ltd. 11/04/2013 100 AZ Fund Management S.A. 11/04/2013 100 Taishin Securities Investment Trust Co., Ltd. 27/04/2013 50 HFT Investment Management (HK) Limited 07/05/2013 100 HSBC Global Asset Management (Taiwan) Limited 10/05/2013 300 Taiping Assets Management (HK) Company Limited China International Capital Corporation Hong Kong Asset Management Limited China Everbright Assets Management Limited 15/05/2013 16/05/2013 30/05/2013 Pending待批准 1,100 400 Bosera Asset Management (International) Co., Ltd. 04/06/2013 50 Mega International Investment Trust Co., Ltd. 04/06/2013 180 BNP Paribas Investment Partners Asia Limited 19/06/2013 570 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
130. 127 Mainland China Securities Survey 2017 Qualified Foreign Institutional Investors 合格境外机构投资者 Number 机构名称 序号 227 圣母大学 228 纽堡亚洲 229 华南永昌证券投资信托股份有限公司 230 景林资产管理香港有限公司 231 中国信托人寿保险股份有限公司 232 凯思博投资管理(香港)有限公司 233 富邦产物保险股份有限公司 234 欧特咨询有限公司 235 盛树投资管理有限公司 236 广发国际资产管理有限公司 237 梅奥诊所 238 国信证券(香港)资产管理有限公司 239 新加坡科技资产管理有限公司 240 政府养老基金(泰国) 241 狮诚控股国际私人有限公司 242 CSAM资产管理有限公司 243 中国人寿富兰克林资产管理有限公司 245 瑞银韩亚资产运用株式会社 246 国泰世华商业银行股份有限公司 247 立陶宛银行 248 富兰克林华美证券投资信托股份有限公司 249 中国信托商业银行股份有限公司 250 华盛顿大学 251 澳门金融管理局 252 史帝夫尼可洛司股份有限公司 253 职总英康保险合作社有限公司 254 Invesco PowerShares资产管理有限公司 255 瑞士再保险亚洲股份有限公司 255 石溪集团 Institution name University of Notre Dame du Lac Newport Asia LLC HUA NAN INVESTMENT TRUST CORPORATION Greenwoods Asset Management Hong Kong Limited CTBC Life Insurance Co., Ltd. Keywise Capital Management (HK) Limited FUBON INSURANCE COMPANY LIMITED Alta Advisers Limited Flowering Tree Investment Manangement Pte. Ltd. GF International Investment Management Limited Mayo Clinic Guosen Securities (HK) Asset Management Company Limited ST Asset Management Ltd Government Pension Fund SeaTown Holdings International Pte. Ltd. CSAM Asset Management Pte Ltd China Life Franklin Asset Management Co., Limited UBS Hana Asset Management Co., Ltd. Cathay United Bank Co., Ltd. Bank of Lithuania Franklin Templeton SinoAM SIM Inc. CTBC Bank Co., Ltd. The Washington University Monetary Authority of Macao Stifel Nicolaus & Company, Inc. NTUC Income Insurance Co-operative Limited Invesco PowerShares Capital Management LLC Swiss Re Asia AG The Rock Creek Group,LP. QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) 19/06/2013 50 15/07/2013 100 15/07/2013 102 15/07/2013 123 20/08/2013 100 20/08/2013 31 26/08/2013 50 26/08/2013 100 26/08/2013 80 26/09/2013 331 29/09/2013 75 29/09/2013 Pending待批准 18/10/2013 50 24/10/2013 100 30/10/2013 100 30/10/2013 Pending待批准 30/10/2013 260 31/10/2013 Pending待批准 07/11/2013 Pending待批准 23/11/2013 100 23/11/2013 100 23/11/2013 200 23/01/2014 80 27/01/2014 50 27/01/2014 3,000 27/01/2014 Pending待批准 27/01/2014 100 27/01/2014 Pending待批准 28/12/2014 100 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
131. 二零一七年中国证券业调查报告 128 Number 机构名称 序号 256 Nordea投资管理公司 257 华顿证券投资信托股份有限公司 258 喀斯喀特有限责任公司 259 铭基国际投资公司 260 奥本海默基金公司 261 高观投资有限公司 262 台新国际商业银行股份有限公司 263 花旗集团基金管理有限公司 264 爱斯普乐基金管理公司 265 彭博家族基金会 266 石溪集团 267 麻省理工学院 268 万金全球香港有限公司 269 高盛国际 270 安盛基金管理有限公司 271 国投瑞银资产管理(香港)有限公司 272 工银瑞信资产管理(国际)有限公司 273 中信证券经纪(香港)有限公司 274 申万宏源投资管理(亚洲)有限公司 275 宾夕法尼亚大学校董会 276 广发资产管理(香港)有限公司 277 麦盛资产管理(亚洲)有限公司 278 玉山商业银行股份有限公司 279 汇添富资产管理(香港)有限公司 280 加利福尼亚大学校董会 281 富国资产管理(香港)有限公司 282 文莱投资局 283 台湾银行股份有限公司 284 淡水泉(香港)投资管理有限公司 Institution name Nordea Investment Management AB QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (美元 百万元) 27/01/2014 100 Paradigm Asset Management Co., Ltd. 11/03/2014 200 Cascade Investment, L.L.C. 11/03/2014 540 Matthews International Capital Management, LLC 12/03/2014 1,500 Oppenheimer Funds, Inc. 19/03/2014 100 Overlook Investments Limited 08/04/2014 20 Taishin International Bank 03/06/2014 160 Citigroup First Investment Management Limited 16/06/2014 Pending待批准 ASSETPLUS Investment Management Co., Ltd. 24/07/2014 75 The Bloomberg Family Foundation Inc. 25/07/2014 50 The Rock Creek Group, LP. 28/07/2014 200 Massachusetts Institute of Technology 19/09/2014 100 Viking Global Hong Kong Limited 22/09/2014 600 Goldman Sachs International 22/09/2014 100 AXA Fund Management S.A. UBS SDIC Asset Management (Hong Kong) Company Limited ICBC Credit Suisse Asset Management (International) Company Limited CITIC Securities Brokerage (HK) Limited 08/10/2014 01/12/2014 04/12/2014 24/12/2014 100 300 Pending待批准 200 Shenwan Hongyuan Asset Management (Asia) Limited 30/12/2014 75 Trustees of the University of Pennsylvania 05/01/2015 200 GF Asset Management (Hong Kong) Limited 07/01/2015 200 Munsun Asset Management (Asia) Limited 22/01/2015 50 E.SUN COMMERCIAL BANK, LTD. 27/02/2015 400 China Universal Asset Management (Hong Kong) Company Limited 27/02/2015 400 The Regents of the University of California 25/03/2015 200 Fullgoal Asset Management (HK) Limited 08/04/2015 200 Brunei Investment Agency 07/05/2015 100 Bank of Taiwan 20/05/2015 200 Springs Capital (Hong Kong) Limited 20/05/2015 2.00 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
132. 129 Mainland China Securities Survey 2017 Qualified Foreign Institutional Investors 合格境外机构投资者 Number 机构名称 序号 285 安联证券投资信托股份有限公司 286 安信资产管理(香港)有限公司 287 日盛证券投资信托股份有限公司 288 泛亚投资管理有限公司 289 建银国际资产管理有限公司 290 忠诚保险有限公司 291 挚信投资顾问(香港)有限公司 292 瀚亚证券投资信托股份有限公司 293 柏瑞证券投资信托股份有限公司 294 农银国际资产管理有限公司 295 融通国际资产管理有限公司 296 国泰全球投资管理有限公司 297 第一商业银行股份有限公司 298 元大证券股份有限公司 299 工银国际资产管理有限公司 300 中国光大证券资产管理有限公司 301 领航集团有限公司 302 中邮创业国际资产管理有限公司 303 财通国际资产管理有限公司 304 摩根大通证券股份有限公司 305 大成国际资产管理有限公司 306 招银国际资产管理有限公司 307 中加国际资产管理有限公司 308 国家第一养老金信托公司 309 海通银行股份有限公司 310 中银香港资产管理有限公司 投资额度合计 Institution name Allianz Global Investors Taiwan Limited QFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (USD million) 累计批准额度 (亿美元) 21/05/2015 62 Essence Asset Management (Hong Kong) Limited 02/06/2015 100 Jih Sun Securities Investment Trust Co., Ltd 02/06/2015 50 General Oriental Investments SA 29/06/2015 100 CCB International Asset Management Limited 28/07/2015 200 Fidelidade-Companhia de Seguros, S.A. 31/08/2015 700 TBP Investment Advisory (HK) Limited 12/10/2015 100 Eastspring Securities Investment Trust Co. Ltd. 02/11/2015 20 PineBridge Investments Management Taiwan Limited 24/11/2015 Pending待批准 ABCI Asset Management Limited 24/11/2015 50 Rongtong Global Investment Limited 15/01/2016 500 Guotai Global Investments Limited 17/03/2016 400 First Commercial Bank, Ltd. 03/05/2016 30 Yuanta Securities Co., Ltd. 19/07/2016 80 ICBC International Asset Management Limited Company 19/07/2016 200 China Everbright Securities Asset Management Limited 12/08/2016 700 The Vanguard Group, Inc. 01/09/2016 Pending待批准 China Post & Capital Global Asset Management Limited 09/09/2016 100 Caitong International Asset Management Co. Limited 09/09/2016 Pending待批准 J.P. Morgan Securities plc Da Cheng International Asset Management Company Limited CMB International Asset Management Limited BOB Scotia International Asset Management Company Limited FSS Trustee Corporation 28/09/2016 06/12/2016 05/01/2017 10/01/2017 18/01/2017 1,000 200 300 200 500 Haitong Bank, S.A. 13/02/2017 500 BOCHK Asset Management Limited 24/05/2017 500 Total investment quota 93,275 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
133. 二零一七年中国证券业调查报告 130 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
134. 131 Mainland China Securities Survey 2017 Appendix 6 RMB Qualified Foreign Institutional Investors 附录6 人民币合格境外机构投资者 List of RQFIIs approved by the CSRC (28 April 2017) 截至2017年4月28日,获证监会批准的人民币合格境外机构投资者名单 Number 机构名称 序号 Institution name RQFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (RMB million) 总投资审批额度 (人民币 百万元) 1 南方东英资产管理有限公司 2 易方达资产管理(香港)有限公司 3 嘉实国际资产管理有限公司 4 华夏基金(香港)有限公司 5 大成国际资产管理有限公司 6 汇添富资产管理(香港)有限公司 7 博时基金(国际)有限公司 8 海富通资产管理(香港)有限公司 9 华安资产管理(香港)有限公司 10 中国国际金融(香港)有限公司 11 国信证券(香港)金融控股有限公司 12 光大证券金融控股有限公司 13 华泰金融控股(香港)有限公司 14 国泰君安金融控股有限公司 15 海通国际控股有限公司 16 广发控股(香港)有限公司 17 招商证券国际有限公司 18 申万宏源(国际)集团有限公司 19 中信证券国际有限公司 20 安信国际金融控股有限公司 21 国元证券(香港)有限公司 22 工银瑞信资产管理(国际)有限公司 23 广发国际资产管理有限公司 24 上投摩根资产管理(香港)有限公司 25 国投瑞银资产管理(香港)有限公司 CSOP Asset Management Ltd E Fund Management (HK) Co., Limited Harvest Global Investment Limited China Asset Management (Hong Kong) Limited Da Cheng International Asset Management Co., Ltd China Universal Asset Management (Hong Kong) Company Limited Bosera Asset Management (International) Co., Ltd HFT Investment (HK) Limited HuaAn Asset Management (Hong Kong) Limited China International Capital Corporation (HK) Limited Guosen Securities (Hong Kong) Financial Holdings Co., Ltd Everbright Securities Financial Holdings Limited Huatai Financial Holdings (Hong Kong) Limited Guotai Junan Financial Holdings Haitong Internatioanal Holdings Limited GF Holdings (Hong Kong) Corporation Limited China Merchants Securities International Limited Shenwan Hongyuan (International) Holdings Limited CITIC Securities International Company Limited Essence International Financial Holdings Limited Guoyuan Securities (Hong Kong) ICBC Credit Suisse Asset Management (International) Company Limited GF International Investment Management Limited CIFM Asset Management (Hong Kong) Limited UBS SDIC Asset Management (Hong Kong) Limited 21/12/2011 21/12/2011 21/12/2011 21/12/2011 21/12/2011 21/12/2011 21/12/2011 21/12/2011 21/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 22/12/2011 07/08/2012 07/08/2012 26/10/2012 17/12/2012 46,100.00 27,200.00 14,740.00 21,800.00 3,700.00 3,100.00 9,600.00 4,400.00 3,900.00 1,700.00 1,700.00 3,500.00 2,950.00 6,900.00 10,700.00 2,700.00 2,700.00 3,900.00 1,400.00 2,400.00 7,300.00 2,800.00 3,900.00 800.00 2,800.00 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
135. 二零一七年中国证券业调查报告 132 Number 机构名称 序号 26 富国资产管理(香港)有限公司 27 诺安基金(香港)有限公司 28 泰康资产管理(香港)有限公司 29 建银国际资产管理有限公司 30 兴证(香港)金融控股有限公司 31 中国人寿富兰克林资产管理有限公司 32 农银国际资产管理有限公司 33 中投证券(香港)金融控股有限公司 34 东方金融控股(香港)有限公司 35 工银亚洲投资管理有限公司 36 恒生投资管理有限公司 37 太平资产管理(香港)有限公司 38 中银香港资产管理有限公司 39 横华国际资产管理有限公司 40 长江证券控股(香港)有限公司 41 中国平安资产管理(香港)有限公司 42 信达国际资产管理有限公司 43 丰收投资管理(香港)有限公司 44 汇丰环球投资管理(香港)有限公司 45 东亚银行有限公司 46 永丰金资产管理(亚洲)有限公司 47 交银国际资产管理有限公司 48 中国东方国际资产管理有限公司 49 惠理基金管理香港有限公司 50 柏瑞投资香港有限公司 Institution name RQFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (RMB million) 总投资审批额度 (人民币 百万元) Fullgoal Asset Management (HK) Ltd 17/12/2012 LFM Global Investment (Hong Kong) Co., Ltd 22/02/2013 Taikang Asset Management (Hong Kong) Company Limited 14/03/2013 CCB International Asset Management Limited Industrial Securities (HK) Financial Holdings Limited China Life Franklin Asset Management Co., Limited 25/03/2013 25/04/2013 15/05/2013 ABCI Asset Management Limited 15/05/2013 China Investment Securities (HK) Orient Finance Holding (Hong Kong) Limited ICBC (Asia) Investment Management Company Limited 16/05/2013 23/05/2013 04/06/2013 Hang Seng Investment Management Limited 04/06/2013 Taiping Assets Management (HK) Company Limited 19/06/2013 BOCHK Asset Management Limited 15/07/2013 HGNH International Asset Management Co.,Limited 15/07/2013 Changjiang Securities Holdings (HK) 15/07/2013 Ping An of China Asset Management (Hong Kong) Company Limited 19/07/2013 Cinda International Asset Management Limited 19/07/2013 Income Partners Asset Management (HK) Limited 19/07/2013 HSBC Global Asset Management (Hong Kong) Limited 19/07/2013 The Bank of East Asia, Limited 15/08/2013 SinoPac Asset Management (Asia) Ltd. 15/08/2013 BOCOM International Asset Management Limited 20/08/2013 China Orient International Asset Management Limited 20/08/2013 Value Partners Hong Kong Limited 20/08/2013 PineBridge Investments Hong Kong Limited 26/09/2013 3,800.00 1,000.00 7,400.00 4,300.00 1,300.00 6,500.00 5,300.00 1,100.00 500.00 2,300.00 1,000.00 1,300.00 800.00 800.00 200.00 1,000.00 800.00 800.00 800.00 1,000.00 1,000.00 800.00 2,500.00 1,300.00 800.00 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
136. 133 Mainland China Securities Survey 2017 RMB Qualified Foreign Instutional Investors 人民币合格境外机构投资者 Number 机构名称 序号 51 创兴银行有限公司 52 JF资产管理有限公司 53 未来资产环球投资(香港)有限公司 54 香港沪光国际投资管理有限公司 55 中国光大资产管理有限公司 56 中信建投(国际)金融控股有限公司 57 国金证券(香港)有限公司 58 中国银河国际金融控股有限公司 59 安石投资管理有限公司 60 瑞银环球资产管理(香港)有限公司 61 永隆资产管理有限公司 62 景林资产管理香港有限公司 63 华宝兴业资产管理(香港)有限公司 64 易亚投资管理有限公司 65 麦格理基金管理(香港)有限公司 66 道富环球投资管理亚洲有限公司 67 嘉理资产管理有限公司 68 施罗德投资管理(香港)有限公司 69 贝莱德资产管理北亚有限公司 70 交银施罗德资产管理(香港)有限公司 71 越秀资产管理有限公司 72 润晖投资管理香港有限公司 73 赤子之心资本亚洲有限公司 74 招商资产管理(香港)有限公司 75 富达基金(香港)有限公司 76 日兴资产管理亚洲有限公司 77 毕盛资产管理有限公司 78 富敦资金管理有限公司 Institution name RQFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (RMB million) 总投资审批额度 (人民币 百万元) Chong Hing Bank Limited 26/09/2013 JF Asset Management Limited 30/10/2013 Mirae Asset Global Investments (Hong Kong) Limited SHANGHAI INTERNATIONAL ASSET MANAGEMENT (HONG KONG) COMPANY LIMITED China Everbright Assets Management Limited China Securities (International) Finance Holding Company Limited Sinolink Securities (Hong Kong) Company Limited China Galaxy International Financial Holdings Limited Ashmore Investment Management Limited UBS Global Asset Management(Hong Kong)Limited Wing Lung Asset Management Limited 30/10/2013 30/10/2013 30/10/2013 30/10/2013 06/12/2013 11/12/2013 17/12/2013 19/12/2013 30/12/2013 Greenwoods Asset Management Hong Kong Limited 10/01/2014 Fortune SG Asset Management (Hong Kong) Co., Limited 20/01/2014 Enhanced Investment Products Limited 27/01/2014 Macquarie Funds Management Hong Kong Limited 27/01/2014 State Street Global Advisors Asia Limited 27/01/2014 Galaxy Asset Management (H.K.) Limited 06/03/2014 Schroder Investment Management (Hong Kong) Limited 06/03/2014 BlackRock Asset Management North Asia Limited BOCOM Schroder Asset Management (Hong Kong) Company Limited Yue Xiu Asset Management Limited 11/03/2014 12/03/2014 26/03/2014 Cephei Capital Management (Hong Kong) Limited 27/03/2014 Pureheart Capital Asia Limited China Merchants Asset Management (Hong Kong) Company Limited FIL Investment Management (Hong Kong) Limited 15/04/2014 21/05/2014 21/05/2014 Nikko Asset Management Asia Ltd 21/05/2014 APS Asset Management Pte Ltd 21/05/2014 Fullerton Fund Management Company Ltd 21/05/2014 1,300.00 1,000.00 1,300.00 800.00 1,900.00 2,000.00 1,000.00 1,100.00 3,000.00 1,000.00 Pending待批准 2,000.00 1,000.00 300.00 1,500.00 1,000.00 500.00 1,000.00 2,000.00 1,000.00 1,000.00 1,300.00 450.00 1,000.00 Pending待批准 1,000.00 1,500.00 1,200.00 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
137. 二零一七年中国证券业调查报告 134 Number 机构名称 序号 79 辉立资本管理(香港)有限公司 80 长盛基金(香港)有限公司 81 贝莱德顾问(英国)有限公司 82 汇丰环球投资管理(英国)有限公司 83 齐鲁国际控股有限公司 84 三星资产运用(香港)有限公司 85 新思路投资有限公司 86 新华资产管理(香港)有限公司 87 元富证券(香港)有限公司 88 国泰君安基金管理有限公司 89 高泰盆景资产管理(香港)有限公司 90 联博香港有限公司 91 财通国际资产管理有限公司 92 元大宝来证券(香港)有限公司 93 安本亚洲资产管理有限公司 94 法国巴黎投资管理 95 天达资产管理有限公司 96 凯敏雅克资产管理公司 97 星展银行有限公司 98 利安资金管理公司 99 融通国际资产管理有限公司 100 新韩法国巴黎资产运用株式会社 101 上海商业银行有限公司 102 法国巴黎投资管理亚洲有限公司 103 中诚国际资本有限公司 104 百达资产管理有限公司 105 亨茂资产管理有限公司 106 赛德堡资本(英国)有限公司 Institution name RQFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (RMB million) 总投资审批额度 (人民币 百万元) Phillip Capital Management (HK) Ltd Changsheng Fund Management (H.K.) Limited BlackRock Advisors (UK) Limited HSBC Global Asset Management (UK) Limited Zhongtai Financial International Limited Samsung Asset Management (Hong Kong) Limited New Silk Road Investment Pte. Ltd. New China Asset Management (Hong Kong) Limited Masterlink Securites (Hong Kong) Corporation Limited Guotai Junan Fund Management Limited Gottex Penjing Asset Management (HK) Limited AllianceBernstein Hong Kong Limited Caitong International Asset Management Co., Limited Yuanta Securities (Hong Kong) Company Limited Aberdeen Asset Management Asia Limited BNP Paribas Asset Management Investec Asset Management Limited Carmignac Gestion DBS Bank Ltd Lion Global Investors Limited Rongtong Global Investment Limited Shinhan BNP Paribas Asset Management Co., Ltd. Shanghai Commercial Bank Limited BNP Paribas Investment Partners Asia Limited CCTIC International Limited Pictet Asset Management Limited Hamon Asset Management Limited Cederberg Capital UK LLP 03/06/2014 12/06/2014 13/06/2014 16/06/2014 27/06/2014 30/06/2014 24/07/2014 24/07/2014 28/07/2014 11/08/2014 11/08/2014 12/08/2014 12/08/2014 15/08/2014 15/08/2014 27/08/2014 28/08/2014 19/09/2014 22/09/2014 23/09/2014 08/10/2014 13/10/2014 13/10/2014 13/10/2014 31/10/2014 06/11/2014 19/11/2014 19/11/2014 100.00 Pending待批准 2,100.00 3,000.00 Pending待批准 Pending待批准 1,500.00 1,000.00 160.00 400.00 500.00 500.00 Pending待批准 Pending待批准 7,300.00 3,000.00 1,500.00 6,000.00 3,000.00 1,000.00 Pending待批准 8,000.00 Pending待批准 Pending待批准 Pending待批准 1,000.00 Pending待批准 300.00 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
138. 135 Mainland China Securities Survey 2017 RMB Qualified Foreign Instutional Investors 人民币合格境外机构投资者 Number 机构名称 序号 107 霸菱资产管理(亚洲)有限公司 108 信安环球投资(香港)有限公司 109 施罗德投资管理(新加坡)有限公司 110 未来资产环球投资有限公司 111 威灵顿投资管理国际有限公司 112 加拿大丰业亚洲有限公司 113 摩根资产管理(新加坡)有限公司 114 东洋资产运用(株) 115 NH-Amundi 资产管理有限公司 116 富舜资产管理(香港)有限公司 117 东部资产运用株式会社 118 韩亚金融投资株式会社 119 瑞银韩亚资产运用株式会社 120 CSAM资产管理有限公司 121 东亚联丰投资管理有限公司 122 忠利投资亚洲有限公司 123 新加坡政府投资有限公司 124 纽伯格伯曼新加坡 125 TRUSTON 资产管理有限公司 126 大信资产运用株式会社 127 三星资产运用株式会社 128 韩国投资信托运用株式会社 129 景顺投资管理有限公司 130 MY Asset 投资管理有限公司 131 德意志资产及财富管理投资有限公司 132 新韩金融投资公司 133 凯思博投资管理(香港)有限公司 134 兴国资产管理公司 Institution name RQFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (RMB million) 总投资审批额度 (人民币 百万元) Baring Asset Management (Asia) Limited 25/11/2014 Principal Global Investors (Hong Kong) Limited 25/11/2014 Schroder Investment Management (Singapore) Ltd 01/12/2014 Mirae Asset Global Investment Co., Ltd 04/12/2014 Wellington Management International Limited 10/12/2014 BNS Asia Limited 12/12/2014 JPMorgan Asset Management (Singapore) Limited 24/12/2014 Tong Yang Asset Management Corp. 24/12/2014 NH-AMUNDI Asset Management Co., Ltd. 26/12/2014 Total Invest Group Asset Management (Hong Kong) Limited 26/12/2014 Dongbu Asset Management Co., Ltd 26/12/2014 Hana Financial Investment Co.,Ltd 29/12/2014 UBS Hana Asset Management Co., Ltd. 05/01/2015 CSAM Asset Management Pte Ltd 05/01/2015 BEA Union Investment Management Limited 05/01/2015 Generali Investments Asia Limited 07/01/2015 GIC Private Limited 22/01/2015 Neuberger Berman Singapore Pte. Limited 22/01/2015 TRUSTON Asset Management Co., Ltd. 22/01/2015 Daishin Asset Management Co., Ltd. 22/01/2015 Samsung Asset Management Co., Ltd. 22/01/2015 Korea Investment Management Co., Ltd. 22/01/2015 Investco Hong Kong Limited 06/02/2015 MY Asset Investment Management Co., Ltd. 06/02/2015 Deutsche Asset & Wealth Management Investment GmbH 06/02/2015 Shinhan Investment Corporation 16/02/2015 Keywise Capital Management (HK) Limited 16/02/2015 Heungkuk Asset Management 16/02/2015 Pending待批准 Pending待批准 1,000.00 1,000.00 3,800.00 1,500.00 2,000.00 2,000.00 1,500.00 Pending待批准 2,000.00 1,000.00 1,500.00 700.00 Pending待批准 Pending待批准 5,000.00 800.00 1,000.00 2,000.00 2,500.00 1,500.00 Pending待批准 1,500.00 6,000.00 2,000.00 Pending待批准 3,000.00 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
139. 二零一七年中国证券业调查报告 136 Number 机构名称 序号 135 英杰华投资亚洲私人有限公司 136 中国建设银行(伦敦)有限公司 137 达杰资金管理有限公司 138 KKR新加坡有限公司 139 领航投资澳洲有限公司 140 兴元投资管理有限公司 141 大华资产管理有限公司 142 苏尔斯英国服务有限公司 143 领先资产管理公司 144 未来资产大宇株式会社 145 信诚资产管理(新加坡)有限公司 146 三星生命保险株式会社 147 教保安盛资产运用(株) 148 迈睿思资产管理有限公司 149 安联环球投资新加坡有限公司 150 方圆投资管理(香港)有限公司 151 三星证券株式会社 152 GAM国际管理有限公司 153 华宜资产运用株式会社 154 华侨银行有限公司 155 嘉实国际资产管理(英国)有限公司 156 东方汇理资产管理香港有限公司 157 Insight 投资管理(环球)有限公司 158 瑞士再保险股份有限公司 159 东部证券股份有限公司 160 蓝海资产管理公司 161 爱斯普乐基金管理公司 162 KB资产运用有限公司 Institution name RQFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (RMB million) 总投资审批额度 (人民币 百万元) Aviva Investors Asia Pte. Limited 17/02/2015 China Construction Bank (London) Limited 17/02/2015 Target Asset Management Pte Ltd 27/02/2015 KKR Singapore Pte. Ltd. 02/03/2015 Vanguard Investment Australia Ltd 02/03/2015 Genesis Investment Management, LLP 06/03/2015 UOB Asset Management Ltd 06/03/2015 Source UK Services Limited 25/03/2015 Lyxor Asset Management 25/03/2015 MIRAE ASSET DAEWOO CO., LTD. 25/03/2015 Reliance Asset Management (Singapore) Pte. Ltd. 31/03/2015 Samsung Life Insurance Co., Ltd. 31/03/2015 Kyobo AXA Investment Managers Co., Ltd. 02/04/2015 Meritz Asset Management Co., Ltd. 08/04/2015 Allianz Global Investors Singapore Limited 08/04/2015 Prudence Investment Management (Hong Kong) Ltd. 08/04/2015 Samsung Securities Co., Ltd 17/04/2015 GAM International Management Limited 17/04/2015 HI Asset Management 06/05/2015 OVERSEA-CHINESE BANKING CORPORATION LIMITED 06/05/2015 Harvest Global Investment (UK) Limited 06/05/2015 Amundi Hong Kong Limited 20/05/2015 Insight Investment Management (Global) Limited 20/05/2015 Swiss Reinsurance Company Ltd 02/06/2015 Dongbu Securities Company Limited 25/06/2015 BlueBay Asset Management LLP 26/06/2015 ASSETPLUS Investment Management Co.,Ltd 29/06/2015 KB Asset Management Co., Ltd 29/06/2015 1,000.00 Pending待批准 200.00 3,500.00 30,000.00 3,000.00 1,200.00 Pending待批准 6,000.00 2,000.00 Pending待批准 2,000.00 1,500.00 3,000.00 1,000.00 Pending待批准 3,000.00 1,800.00 1,500.00 1,000.00 3,000.00 Pending待批准 1,200.00 7,000.00 2,500.00 1,600.00 2,000.00 2,000.00 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
140. 137 Mainland China Securities Survey 2017 RMB Qualified Foreign Instutional Investors 人民币合格境外机构投资者 Number 机构名称 序号 Institution name RQFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (RMB million) 总投资审批额度 (人民币 百万元) 163 韩国产业银行 164 瑞银资产管理(新加坡)有限公司 165 CI投资管理公司 166 元大证券株式会社 167 UBI资产管理公司 168 韩华资产运用株式会社 169 大信证券(株) 170 韩国投资证券株式会社 185 现代资本公司(株) 172 未来资产证券株式会社 171 IBK投资证券株式会社 173 三星火灾海上保险公司 174 东方汇理资产管理新加坡有限公司 176 Hermes 投资管理有限公司 175 Multi Asset 基金管理公司 177 东方汇理资产管理公司 178 Kiwoom投资资产管理有限公司 179 现代投资公司(株) 180 中国工商银行(欧洲)有限公司 181 中国银行(卢森堡)有限公司 182 广发国际资产管理(英国)有限公司 183 安大略退休金管理委员会 184 加拿大年金计划投资委员会 186 保宁资本有限公司 187 MEAG 慕尼黑安顾投资有限公司 188 贝莱德(新加坡)有限公司 189 野村资产管理德国有限公司 190 太平洋投资管理公司亚洲私营有限公司 191 忠利投资卢森堡有限公司 Korea Development Bank 29/06/2015 UBS Asset Management (Singapore) Ltd 29/06/2015 CI Investments Inc. 29/06/2015 Yuanta Securities Korea Co., Ltd. 28/07/2015 Union Bancaire Gestion Institutionnelle (France) SAS 28/07/2015 Hanwha Asset Management Co., Ltd. 28/07/2015 Daishin Securities Co., Ltd 28/07/2015 Korea Investment & Securities Co., Ltd. 10/08/2015 Hyundai Securites Co., Ltd 29/12/2015 Mirae Asset Securities Co., Ltd. 30/08/2015 IBK Securities Co., Ltd. 10/08/2015 Samsung Fire & Marine Insurance Co., Ltd. 31/08/2015 Amundi Singapore Limited 31/08/2015 Hermes Investment Management Limited 31/08/2015 Multi Asset Global Investment Co., Ltd. 31/08/2015 Amundi Asset Management 17/09/2015 Kiwoom Asset Management Co., Ltd 23/09/2015 Hyundai Investments Co., Ltd 09/10/2015 Industrial and Commercial Bank of China (Europe) S.A. 02/11/2015 Bank of China (Luxembourg) S.A. 03/11/2015 GF International Asset Management (UK) Company Limited 10/12/2015 Ontario Pension Board 21/12/2015 Canada Pension Plan Investment Board 21/12/2015 Polunin Capital Partners Limited 13/01/2016 MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH 25/01/2016 BlackRock (Singapore) Limited 25/01/2016 Nomura Asset Management Deutschland KAG mbH 01/02/2016 PIMCO Asia Pte Ltd 15/02/2016 Generali Investments Luxembourg S.A. 22/02/2016 1,000.00 2,500.00 225.00 2,500.00 2,000.00 3,000.00 2,500.00 1,000.00 Pending待批准 Pending待批准 2,000.00 3,000.00 2,800.00 Pending待批准 2,000.00 2,800.00 3,000.00 3,000.00 4,000.00 1,000.00 3,000.00 1,600.00 100.00 800.00 Pending待批准 20,000.00 543.00 1,800.00 5,000.00 Source: CSRC State Administration of Foreign Exchange (SAFE) © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
141. 二零一七年中国证券业调查报告 138 Number 机构名称 序号 Institution name RQFII approval date 资格审批日期 (Date/Month/Year) (日期/月份/年份) Total investment quota (RMB million) 总投资审批额度 (人民币 百万元) 192 法国工商信贷银行有限公司 193 OCTO 资产管理公司 194 Avanda投资管理私人有限公司 195 景顺资产管理有限公司 196 瀚亚投资(新加坡)有限公司 197 安盛投资管理有限公司(巴黎) 198 广发金融交易(英国)有限公司 199 高盛国际资产管理公司 200 安联环球投资有限公司 201 辉立资金管理有限公司 202 韩华投资证券公司 203 迈达思基金管理有限公司 204 富达投资管理(新加坡)有限公司 205 荷宝卢森堡股份有限公司 206 爱德蒙得洛希尔资产管理(法国)有限公司 207 新加坡科技资产管理有限公司 208 海汇通资产管理有限公司 209 有进投资证券公司 210 株式会社新韩银行 211 凯恩国际基金管理股份有限公司(卢森堡) 212 开泰基金管理有限公司 213 东吴证券中新(新加坡)有限公司 214 罗素投资管理(澳大利亚)有限公司 215 贝莱德基金顾问公司 216 Lemanik资产管理股份有限公司 217 锋裕资产管理公司 218 联昌信安资产管理有限公司 219 范达投资有限公司 投资额度合计 Credit Industriel et Commercial S.A. OCTO Asset Management Avanda Investment Management Pte. Ltd. Investco Asset Management Limited Eastspring Investments (Singapore) Limited AXA Investment Managers Paris GF Financial Markets (UK) Limited Goldman Sachs Asset Management International Allianz Global Investors GmbH Phillip Capital Management (S) Ltd Hanwha Investment & Securities Co., Ltd. Midas International Asset Management Ltd. Fidelity Investments (Singapore) Limited Robeco Luxembourg S.A. Edmond de Rothschild Asset Management (France) ST Asset Management Ltd. Harveston Asset Management Pte. Ltd. Eugene Investment & Securities Co., Ltd. Shinhan Bank Co., Ltd. Carne Global Fund Managers (Luxembourg) S.A. Kasikorn Asset Management Co., Ltd Soochow Securities CSSD (Singapore) Pte. Ltd Russell Investment Management Limited BlackRock Fund Advisors Lemanik Asset Management S.A. Pioneer Asset Management S.A. CIMB-Principal Asset Management Berhad VanEck Investments Limited Total investment quota 22/02/2016 26/02/2016 15/03/2016 16/03/2016 17/03/2016 01/04/2016 01/04/2016 15/04/2016 26/04/2016 26/04/2016 03/05/2016 06/05/2016 06/06/2016 08/06/2016 08/06/2016 24/06/2016 19/07/2016 12/08/2016 22/08/2016 09/09/2016 09/09/2016 27/10/2016 27/10/2016 25/11/2016 25/11/2016 20/12/2016 18/01/2017 23/02/2017 800.00 Pending待批准 700.00 Pending待批准 275.00 3,400.00 1,000.00 694.00 4,000.00 420.00 Pending待批准 Pending待批准 460.00 3,000.00 Pending待批准 650.00 650.00 700.00 Pending待批准 687.00 1,100.00 1,500.00 Pending待批准 11,000.00 Pending待批准 500.00 600.00 1,100.00 542,304 资料来源:中国证监会 国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
142. 139 Mainland China Securities Survey 2017 Appendix 7 Qualified Domestic Institutional Investors 附录7 合格境内机构投资者 List of QDIIs’ investment quota approved by SAFE (26 May 2017) 截至2017年5月26日,获国家外汇管理局批准的合格境内机构投资者投资额度名单 Number Type of Institution Institution name 序号 机构类型 机构名称 1 银行 2 银行 3 银行 4 银行 5 银行 6 银行 7 银行 8 银行 9 银行 10 银行 11 银行 12 银行 13 银行 14 银行 15 银行 16 银行 17 银行 18 银行 19 银行 20 银行 21 银行 22 银行 23 银行 24 银行 Bank of Communications Co., Ltd. 交通银行股份有限公司 China Citic Bank 中信银行 Hang Seng Bank (China) Co., Ltd. 恒生银行(中国)有限公司 Citibank (China) Co., Ltd. 花旗银行(中国)有限公司 China Minsheng Bank 民生银行 Bank of Beijing Internal branch of Bank of China (Hongkong) Limited Credit Suisse Co., Ltd. Shanghai branch 北京银行 中国银行(香港)有限公司内地分行 瑞士信贷银行股份有限公司上海分行 Deutsche Bank (China) Limited 德意志银行(中国)有限公司 Shanghai Pudong Development Bank 上海浦东发展银行 Bank of Shanghai 上海银行 DBS Bank (China) Limited 星展银行(中国)有限公司 Bank of France Paris (China) Limited 法国巴黎银行(中国)有限公司 Societe Generale de France (China) Limited 法国兴业银行(中国)有限公司 Overseas Chinese bank 华侨永亨银行 UOB Bank (China) Limited 大华银行(中国)有限公司 Swiss bank (China) Limited 瑞士银行(中国)有限公司 Ping An Bank Co., Ltd. Australia & New Zealand Banking (China) Limited Bank of China Co., Ltd. Industrial and Commercial Bank of China Co., Ltd. The Bank of East Asia (China) Co., Ltd. 平安银行股份有限公司 澳大利亚和新西兰银行(中国)有限公司 中国银行股份有限公司 中国工商银行股份有限公司 东亚银行(中国)有限公司 China Construction Bank Co., Ltd. 中国建设银行股份有限公司 China Merchants Bank Co., Ltd. 招商银行股份有限公司 Investment quota approval date 投资额度审批日期 (Date/Month/ year) (日期/月份/年份) Investment quota (USD million) 批准额度 (美元 百万元) 27/07/2006 500 18/09/2006 100 27/09/2006 30 27/09/2006 3,400 08/11/2006 100 11/12/2006 50 11/01/2007 30 30/01/2007 30 17/08/2007 30 31/08/2007 30 24/01/2008 30 28/07/2010 800 28/07/2010 100 01/09/2010 100 06/01/2011 100 25/10/2012 300 24/06/2013 30 22/09/2014 200 30/10/2014 400 28/12/2014 300 28/12/2014 300 28/12/2014 200 28/12/2014 500 28/12/2014 200 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: SAFE © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
143. 二零一七年中国证券业调查报告 140 Number Type of Institution Institution name 序号 机构类型 机构名称 25 银行 26 银行 27 银行 28 银行 29 银行 30 银行 银行系合计 31 证券及基金 32 证券及基金 33 证券及基金 34 证券及基金 35 证券及基金 36 证券及基金 37 证券及基金 38 证券及基金 39 证券及基金 40 证券及基金 41 证券及基金 42 证券及基金 43 证券及基金 44 证券及基金 45 证券及基金 46 证券及基金 47 证券及基金 China Industrial Bank Co., Ltd.) China Everbright Bank Agricultural Bank of China Standard Chartered Bank (China) Limited Nanyang Commercial Bank (China) Co., Ltd. HSBC (China) Co., Ltd. 兴业银行 中国光大银行 中国农业银行 渣打银行(中国)有限公司 南洋商业银行(中国)有限公司 汇丰银行(中国)有限公司 Yinhua Fund Management Company 银华基金管理公司 China Merchants Fund Management Co., Ltd. 招商基金管理有限公司 Bosera Asset Management Co., Ltd. 博时基金管理有限公司 China Universal Asset Management Co.,Ltd 汇添富基金管理有限公司 Changsheng Fund Management Co., Ltd. 长盛基金管理有限公司 Bank of China Investment Management Co., Ltd. 中银基金管理有限公司 Huatai securities company limited* 华泰证券股份有限公司* Shanghai Orient Securities Asset Management Co., Ltd. 上海东方证券资产管理有限公司 Essence securities Co., Ltd. 安信证券股份有限公司 The Milky Way Jinhui Securities Asset Management Limited 银河金汇证券资产管理有限公司 Pacific Securities Limited by Share Ltd 太平洋证券股份有限公司 China Merchants Securities Limited by Share Ltd 招商证券股份有限公司 ICBC Credit Suisse fund management company 工银瑞信基金管理公司 China International Capital Corporation Limited*# 中国国际金融有限公司*# CCB Principal Asset Management Co., Ltd. 建信基金管理有限公司 Lion Fund Management Co., Ltd. Everbright Pramerica Fund Management Co., Ltd. 诺安基金管理有限公司 光大保德信基金管理有限公司 Investment quota approval date 投资额度审批日期 (Date/Month/ year) (日期/月份/年份) Investment quota (USD million) 批准额度 (美元 百万元) 28/12/2014 100 28/12/2014 100 28/12/2014 200 30/01/2015 2,000 13/02/2015 180 26/03/2015 3,400 Bank Total 13,840 03/04/2008 300 19/10/2009 500 06/11/2009 600 09/11/2009 400 11/12/2009 300 12/03/2010 700 14/04/2010 100 26/11/2010 100 16/08/2012 500 24/01/2013 400 30/04/2014 200 27/11/2014 400 28/12/2014 300 28/12/2014 2,200 28/12/2014 100 28/12/2014 300 28/12/2014 550 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
144. 141 Mainland China Securities Survey 2017 Qualified Domestic Institutional Investors 合格境内机构投资者 Number Type of Institution Institution name 序号 机构类型 机构名称 48 证券及基金 49 证券及基金 50 证券及基金 51 证券及基金 52 证券及基金 53 证券及基金 54 证券及基金 55 证券及基金 56 证券及基金 57 证券及基金 58 证券及基金 59 证券及基金 60 证券及基金 61 证券及基金 62 证券及基金 63 证券及基金 64 证券及基金 65 证券及基金 66 证券及基金 67 证券及基金 68 证券及基金 69 证券及基金 70 证券及基金 71 证券及基金 72 证券及基金 73 证券及基金 74 证券及基金 Fullgoal Fund Management Co., Ltd. 富国基金管理有限公司 Dacheng Fund Management Co., Ltd. 大成基金管理有限公司 Manulife Teda Fund Management Co., Ltd. Shanghai Guotai Junan Securities Assets Management Co., Ltd. Chang Xin Asset Management Co., Ltd. 泰达宏利基金管理有限公司 上海国泰君安证券资产管理有限公司 长信基金管理有限责任公司 Huatai-PineBridge Fund Management Co., Ltd. 华泰柏瑞基金管理有限公司 CITIC Securities 中信证券股份有限公司* BOCI Securities Ltd 中银国际证券有限责任公司# China International Fund Management 上投摩根基金管理公司 Fortune SGAM Fund Management Co., Ltd. 华宝兴业基金管理有限公司 Fortis fund management company 海富通基金管理公司 Penghua Fund Management Co., Ltd. Shanghai Everbright Securities Asset Management Co., Ltd. Guoxin Securities Limited by Share Ltd 鹏华基金管理有限公司 上海光大证券资产管理有限公司 国信证券股份有限公司 Rongtong Fund Management Co., Ltd. 融通基金管理有限公司 Shenwan Hongyuan Securities Co., Ltd. 申万宏源证券有限公司 Taikang asset management Co., Ltd. 泰康资产管理有限责任公司 Haitong Asset Management Co., Ltd. 上海海通证券资产管理有限公司 Hua An Fund Management Co., Ltd. 华安基金管理公司 China Asset Management Bank of Communications Schroder Fund Management Co., Ltd. E Fund Management Co., Ltd. 华夏基金管理公司 交银施罗德基金管理有限公司 易方达基金管理有限公司 GF Fund Management Co., Ltd. 广发基金管理有限公司 CITIC-Prudential Fund Management Co., Ltd. 信诚基金管理有限公司 Franklin Templeton Sealand Fund Management Co., Ltd. GF Securities Asset Management (Guangdong) Co., Ltd. 国海富兰克林基金管理有限公司 广发证券资产管理(广东)有限公司 Southern Fund Management Co 南方基金管理公司 Investment quota approval date 投资额度审批日期 (Date/Month/ year) (日期/月份/年份) Investment quota (USD million) 批准额度 (美元 百万元) 28/12/2014 200 28/12/2014 350 28/12/2014 100 28/12/2014 450 28/12/2014 450 28/12/2014 100 28/12/2014 400 28/12/2014 300 30/01/2015 2,700 30/01/2015 1,050 30/01/2015 500 30/01/2015 600 30/01/2015 300 30/01/2015 1,000 30/01/2015 900 30/01/2015 400 30/01/2015 300 30/01/2015 800 13/02/2015 1,200 13/02/2015 3,500 13/02/2015 600 13/02/2015 1,900 13/02/2015 600 13/02/2015 600 13/02/2015 700 13/02/2015 1,200 26/03/2015 2,600 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: SAFE © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
145. 二零一七年中国证券业调查报告 142 Number Type of Institution Institution name 序号 机构类型 机构名称 75 证券及基金 Harvest fund management co 嘉实基金管理公司 76 证券及基金 Guotai Asset Management Co., Ltd. 国泰基金管理有限公司 77 证券及基金 UBS SDIC Fund Management Co., Ltd. 国投瑞银基金管理有限公司 78 证券及基金 Invesco Great Wall Fund Management Co., Ltd. 景顺长城基金管理有限公司 证券及基金系合计 79 保险 China Life Insurance (Group) Co., Ltd 中国人寿保险集团公司 80 保险 Huatai Asset Management Co., Ltd 华泰资产管理有限公司 81 保险 Taikang Life Insurance Co., Ltd 泰康人寿保险股份有限公司 82 保险 Sino Life Insurance Co., Ltd. 生命人寿保险股份有限公司 83 保险 PICC Health Insurance Co., Ltd. 中国人民健康保险股份有限公司 84 保险 PICC Life Insurance Co., Ltd. 中国人民人寿保险股份有限公司 85 保险 China Reinsurance (Group) Corporation 中国再保险(集团)公司 86 保险 Sinosafe Insurance Co., Ltd. 华安财产保险股份有限公司 87 保险 Huatai Insurance Co., Ltd. 华泰财产保险股份有限公司 88 保险 Bohai Property Insurance 渤海财产保险股份有限公司 89 保险 AIA (mainland branches) 友邦保险境内分公司 90 保险 AXA-Minmetals Assurance Co., Ltd. 工银安盛人寿保险有限公司 91 保险 Dubang Insurance Co., Ltd. 都邦财产保险股份有限公司 92 保险 93 保险 94 保险 95 保险 Taiping Insurance Co., Ltd. Asia Pacific Property Insurance Company Limited China Property and Casualty Reinsurance Co., Ltd. China Export and Credit Insurance Co., Ltd. 太平财产保险有限公司 亚太财产保险有限公司 中国财产再保险股份有限公司 中国出口信用保险公司 96 保险 Alltrust Property Insurance Co., Ltd. 永诚财产保险股份有限公司 97 保险 China Life Reinsurance Co., Ltd. 中国人寿再保险股份有限公司 98 保险 99 保险 100 保险 Pramerica Fosun Life Insurance Co., Ltd. China Taiping Reinsurance Beijing Branch Co., Ltd. Union Life Insurance Co., Ltd. 复星保德信人寿保险有限公司 太平再保险有限公司北京分公司 合众人寿保险股份有限公司 Investment quota approval date 投资额度审批日期 (Date/Month/ year) (日期/月份/年份) Investment quota (USD million) 批准额度 (美元 百万元) 26/03/2015 3,400 26/03/2015 400 26/03/2015 1,800 26/03/2015 Securities and Funds Total 14/12/2006 200 37,550 100 23/04/2007 30 22/06/2007 1,885 16/08/2007 4,409 24/09/2007 15 26/09/2007 34 18/10/2007 500 15/11/2007 20 15/11/2007 30 18/12/2007 5 24/12/2007 168 28/12/2007 8 23/01/2008 25 30/12/2009 79 14/04/2010 25 31/05/2010 192 30/09/2011 1,000 26/12/2012 30 09/12/2013 1,000 22/01/2014 11 25/02/2014 50 25/02/2014 200 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
146. 143 Mainland China Securities Survey 2017 Qualified Domestic Institutional Investors 合格境内机构投资者 Number Type of Institution Institution name 序号 机构类型 机构名称 101 保险 102 保险 103 保险 104 保险 105 保险 106 保险 107 保险 108 保险 109 保险 110 保险 111 保险 112 保险 113 保险 114 保险 115 保险 116 保险 117 保险 118 保险 保险系合计 119 信托 120 信托 121 信托 122 信托 123 信托 124 信托 125 信托 126 信托 China Life Asset Management Co., Ltd. 中国人寿资产管理有限公司 China Post Life Co., Ltd. 中邮人寿保险股份有限公司 PICC Property and Casualty Co., Ltd. 中国人民财产保险公司 Generali China Life Insurance Co., Ltd. 中意人寿保险有限公司 Anbang Insurance Group Co., Ltd. 安邦保险集团股份有限公司 Sunshine Insurance Group Co., Ltd. 阳光人寿保险股份有限公司 Ping An Insurance (Group) Co., Ltd. 平安保险(集团)股份有限公司 PICC (Group) Co., Ltd. 中国人民保险集团股份有限公司 New China Life Insurance Co.,Ltd 新华人寿保险股份有限公司 Huaxia Life Insurance Co., Ltd. 华夏人寿保险股份有限公司 Anbang Insurance Co., Ltd. 安邦财产保险股份有限公司 Taishan Property & Casualty Insurance Company Co., Ltd. 泰山财产保险股份有限公司 Foresea Life Insurance Co., Ltd. 前海人寿保险股份有限公司 China Life Insuarnce (Company) Co., Ltd. 中国人寿保险股份有限公司 Taiping Life Insurance Co., Ltd. 太平人寿保险有限公司 Tianan Property Insurance Co., Ltd. 天安财产保险股份有限公司 China Pacific Insurance (Group) Corporation 中国太平洋保险(集团)公司 China Pacific Life Insurance Co., Ltd. 中国太平洋人寿保险股份有限公司 Zhonghai Trust Co., Ltd. PingAn Trust Co., Ltd. Dalian Huaxin Trust Co., Ltd. China Foreign Economy and Trade Trust Co., Ltd. China Credit Trust Co., Ltd. CCB Trust Co., Ltd. Zhongrong Trust Co., Ltd. Shanghai International Trust Co., Ltd. 中海信托股份有限公司 平安信托有限责任公司 大连华信信托股份有限公司 中国对外经济贸易信托有限公司 中诚信托有限责任公司 建信信托有限责任公司 中融国际信托有限公司 上海国际信托有限公司 Investment quota approval date 投资额度审批日期 (Date/Month/ year) (日期/月份/年份) Investment quota (USD million) 批准额度 (美元 百万元) 30/10/2014 130 30/10/2014 200 28/12/2014 800 28/12/2014 415 28/12/2014 710 28/12/2014 1,700 30/01/2015 7,190 30/01/2015 315 30/01/2015 2,200 30/01/2015 700 30/01/2015 1,100 30/01/2015 20 30/01/2015 500 13/02/2015 3,550 26/03/2015 320 26/03/2015 800 04/12/2015 37 04/12/2015 350 Insurance Total 30,853 30/12/2009 100 30/09/2011 100 20/12/2011 100 22/09/2014 500 27/11/2014 1,600 27/11/2014 400 27/11/2014 300 28/12/2014 950 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: SAFE © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
147. Number Type of Institution Institution name 序号 机构类型 机构名称 127 信托 128 信托 129 信托 130 信托 131 信托 132 信托 信托系合计 总计 Huabao Trust Co., Ltd. Citic Trust Co., Ltd. New China Trust Co., Ltd. China Industrial International Trust Co., Ltd. Beijing International Trust Co., Ltd. Bank of Communications International Trust Co., Ltd. 华宝信托有限责任公司 中信信托有限责任公司 新华信托股份有限公司 兴业国际信托有限公司 北京国际信托有限公司 交银国际信托有限公司 二零一七年中国证券业调查报告 144 Investment quota approval date 投资额度审批日期 (Date/Month/ year) (日期/月份/年份) Investment quota (USD million) 批准额度 (美元 百万元) 28/12/2014 1,900 28/12/2014 950 30/01/2015 150 13/02/2015 200 13/02/2015 300 26/03/2015 200 Trust Total 7,750 Grand Total 89,993 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:国家外汇管理局 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
148. 145 Mainland China Securities Survey 2017 Appendix 8 Mainland Futures Companies 附录8 内地期货公司名单 List of domestic futures companies approved by CSRC (1 June 2017) 截至2017年6月1日,获证监会批准的期货公司名单 Number 机构名称 序号 1 安粮期货股份有限公司 2 中航期货有限公司 3 宝城期货有限责任公司 4 北京首创期货有限责任公司 5 中银国际期货有限责任公司 6 渤海期货股份有限公司 7 倍特期货有限公司 8 财达期货有限公司 9 东航期货有限责任公司 10 中原期货股份有限公司 11 长安期货有限公司 12 长江期货有限公司 13 华鑫期货有限公司 14 中信建投期货有限公司 15 中国国际期货有限公司 16 中投天琪期货有限公司 17 招商期货有限公司 18 中衍期货有限公司 19 创元期货股份有限公司 20 信达期货有限公司 21 中信期货有限公司 22 中粮期货有限公司 23 大地期货有限公司 24 格林大华期货有限公司 25 大连良运期货经纪有限公司 26 大通期货经纪有限公司 27 大有期货有限公司 Institution name The Largest shareholder 第一大股东 Stake as at 31 Mar 2017 持股比例 (2017年3月 31日) Invested by Securities companies 是否证券 公司投资 Sinoforeign JV 是否中外 合资期货 公司 AHCOF Futures Co., Ltd. 安徽省粮油食品进出口(集团)公司 44.00% N N Avic Futures Co., Ltd. 中航投资控股有限公司 82.42% N N Baocheng Futures Co., Ltd. 长城证券股份有限公司 80.00% Y N Beijing Capital Futures Co., Ltd. 国融证券股份有限公司 50.37% Y N BOC International Futures Co., Ltd. 中银国际证券有限责任公司# 100.00% Y N Bohai Futures Co., Ltd. 东北证券股份有限公司* 96.00% Y N Brilliant Futures Agency Co., Ltd. 成都倍特投资有限责任公司 74.80% N N Caida Futures Co., Ltd. 财达证券有限责任公司 99.20% Y N CES Futures Co., Ltd. 东航金控有限责任公司 100.00% N N Central China Futures Co., Ltd. Chang-an Futures Co., Ltd. Changjiang Futures Co., Ltd. 中原证券股份有限公司* 开源证券有限责任公司/ 西安投资控股有限公司 长江证券股份有限公司* 51.36% Y N 33.00% Y N 95.26% Y N China Fortune Futures Co., Ltd. 华鑫证券有限责任公司 100.00% Y N China Futures Co., Ltd. 中信建投证券股份有限公司* 100.00% Y N China International Futures Co., Ltd. 中期集团有限公司 53.55% N N China Investment Futures Co., Ltd. 中国中投证券有限责任公司 80.00% Y N China Merchants Futures Co., Ltd. 招商证券股份有限公司* 100.00% Y N China-Deriviative Futures Co., Ltd. 深圳新策投资发展有限公司 49.00% N N Chuang Yuan Futures Co., Ltd. 苏州创元投资发展(集团)有限公司 51.00% N N Cinda Futures Co., Ltd. 信达证券股份有限公司 100.00% Y N CITIC Securities Futures Co., Ltd. 中信证券股份有限公司* 93.47% Y N COFCO Futures Co., Ltd. 中粮资本投资有限公司 65.00% N N Dadi Futures Co., Ltd. 浙江东方集团股份有限公司 100.00% N N Gelin Dahua Futures Co., Ltd. 山西证券股份有限公司* 100.00% Y N Dalian Fortune Futures Brokerage Co., Ltd. 大通证券股份有限公司 51.00% Y N Datong Futures Co., Ltd. 哈尔滨工大集团风险投资股份有限公司 70.00% N N Dayou Futures Co., Ltd. 现代投资股份有限公司 100.00% N N * denotes listed securities company # denotes Sino-foreign futures joint venture Sources: official websites of futures companies, CSRC, China Futures Association © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
149. 二零一七年中国证券业调查报告 146 Number 机构名称 序号 Institution name The Largest shareholder 第一大股东 28 大越期货股份有限公司 Dayue Futures Co., Ltd. 大越股份有限公司 29 东海期货有限责任公司 Donghai Futures Co., Ltd. 东海证券股份有限公司 30 江苏东华期货有限公司 Donghua Futures Co., Ltd. 南京创元房地产开发有限公司 31 东兴期货有限责任公司 Dongxing Futures Co., Ltd. 东兴证券股份有限公司* 32 道通期货经纪有限公司 DoTo Futures Co., Ltd. 张家港市虹达运输有限公司 33 安信期货有限责任公司 Essence Futures Co., Ltd. 安信证券股份有限公司 34 光大期货有限公司 Everbright Futures Co., Ltd. 光大证券股份有限公司* 35 第一创业期货有限责任公司 First Capital Futures Co., Ltd. 第一创业证券股份有限公司* 36 一德期货有限公司 First Futures Brokerage Co., Ltd. 天津市财政投资管理中心 37 中金期货有限公司 CICC Futures Co., Ltd. 中国国际金融股份有限公司* 38 方正中期期货有限公司 Founder CIFCO Futures Co., Ltd. 方正证券股份有限公司* 39 银河期货有限公司# Galaxy Futures Co., Ltd.# 中国银河证券股份有限公司* 40 广发期货有限公司 GF Futures Co., Ltd. 广发证券股份有限公司* 41 金元期货有限公司 Goldstate Futures Co., Ltd. 金元证券股份有限公司 42 金信期货有限公司 43 广州金控期货有限公司 44 广州期货股份有限公司 45 冠通期货有限公司 46 国都期货有限公司 Goldtrust Futures Co., Ltd. 湖南湘投控股集团有限公司 Guangzhou Finance Holdings Futures Co., Ltd. 广州金融控股集团有限公司 Guangzhou Futures Co., Ltd. 广州证券股份有限公司 Guantong Futures Co., Ltd. 南通开发区南山投资有限公司/ 中国对外经济贸易信托有限公司 Guodu Futures Co., Ltd. 国都证券股份有限公司 47 国富期货有限公司 Guofu Futures Co., Ltd. 丹东老东北农牧有限公司 48 国海良时期货有限公司 Guohai Liangshi Futures Co., Ltd. 国海证券股份有限公司* 49 国联期货股份有限公司 Guolian Futures Co., Ltd. 无锡市国联发展(集团)有限公司 50 国信期货有限责任公司 Guosen Futures Co., Ltd. 国信证券股份有限公司* 51 国泰君安期货有限公司 Guotai Junan Futures Co., Ltd. 国泰君安证券股份有限公司* 52 国元期货有限公司 Guoyuan Futures Co., Ltd. 国元证券股份有限公司* 53 海通期货股份有限公司 Haitong Futures Co., Ltd. 海通证券股份有限公司* 54 和合期货有限公司 Hehe Futures Co., Ltd. 山西吉达工程有限公司 Stake as at 31 Mar 2017 持股比例 (2017年3月 31日) Invested by Securities companies 是否证券 公司投资 Sinoforeign JV 是否中外 合资期货 公司 63.80% N N 60.00% Y N 51.00% N N 100.00% Y N 80.00% N N 100.00% Y N 100.00% Y N 100.00% Y N 69.70% N N 100.00% Y N 90.62% Y N 83.32% Y Y 100.00% Y N 89.33% Y N 55.44% N N 82.17% N N 99.03% Y N 48.72% N N 62.31% Y N 99.13% N N 83.84% Y N 54.72% N N 100.00% Y N 100.00% Y N 98.41% Y N 66.67% Y N 40.00% N N * 代表上市证券公司 # 代表中外合资期货公司 资料来源:期货公司官网,中国证券管理委员会,中国期货业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
150. 147 Mainland China Securities Survey 2017 Mainland Futures Companies 内地期货公司名单 Number 机构名称 序号 Institution name The Largest shareholder 第一大股东 55 黑龙江时代期货经纪有限公司 Heilongjiang Shidai Futures Agency Co., Ltd. 群升集团有限公司 56 恒泰期货股份有限公司 Hengtai Futures Co., Ltd. 恒泰证券股份有限公司* Stake as at 31 Mar 2017 持股比例 (2017年3月 31日) Invested by Securities companies 是否证券 公司投资 Sinoforeign JV 是否中外 合资期货 公司 48.00% N N 80.00% Y N 57 河北恒银期货经纪有限公司 Hengyin Futures Brokerage Co., Ltd. 河北省国富农业担保有限公司 55.17% N N 58 和融期货有限责任公司 Herong Futures Brokerage Co., Ltd. 渤海证券股份有限公司 99.76% Y N 59 海证期货有限公司 Hicend Futures Co., Ltd. 上海证券有限责任公司 100.00% Y N 60 弘业期货股份有限公司 Holly Futures Co., Ltd. 江苏省苏豪控股集团有限公司 30.37% N N 61 红塔期货有限责任公司 Hongta Futures Co., Ltd. 红塔证券股份有限公司 100.00% Y N 62 宏源期货有限公司 Hongyuan Futures Co., Ltd. 申万宏源集团股份有限公司* 100.00% N N 63 混沌天成期货股份有限公司 Chaos Ternary Furtures Co., Ltd. 上海混沌投资(集团)有限公司 97.00% N N 64 华安期货有限责任公司 Huaan Futures Co., Ltd. 华安证券股份有限公司 92.04% Y N 65 华创期货有限责任公司 Huachuang Futures Co., Ltd. 华创证券有限责任公司 62.5% Y N 66 九州期货有限公司 JZ Futures Co., Ltd. 九州证券股份有限公司 100.00% Y N 67 华联期货有限公司 Hualian Futures Co., Ltd. 东莞证券有限责任公司 49.00% Y N 68 华龙期货股份有限公司 Hualong Futures Co., Ltd. 华龙证券有限责任公司 40.87% Y N 69 华融期货有限责任公司 HuaRong Futures Co., Ltd. 华融证券股份有限公司 92.50% Y N 70 华泰期货有限公司 Huatai Futures Co., Ltd. 华泰证券股份有限公司* 60.00% Y N 71 华闻期货有限公司 Huawen Futures Co., Ltd. 上海新黄浦置业股份有限公司 100.00% N N 72 华西期货有限责任公司 Huaxi Futures Co., Ltd. 华西证券股份有限公司 100.00% Y N 73 徽商期货有限责任公司 Huishang Futures Co., Ltd. 安徽省徽商集团有限公司 71.77% N N 74 兴证期货有限公司 Industrial Futures Co., Ltd. 兴业证券股份有限公司* 97.18% Y N 75 国贸期货有限公司 ITG Futures Co., Ltd. 厦门国贸集团股份有限公司 95.00% N N 76 摩根大通期货有限公司# J.P. Morgan Futures Co., Ltd.# 深圳市迈兰德股权投资基金管理有限 公司 50.00% N Y 77 江海汇鑫期货有限公司 Jianghaihuixin Futures Co., Ltd. 江海证券有限公司 65.00% Y N 78 首创京都期货有限公司 Capital Jingdu Futures Co., Ltd. 首创证券有限责任公司 100.00% Y N 79 华金期货有限公司 HuaJin Futures Co., Ltd. 珠海铧创投资管理有限公司 100.00% N N 80 金鹏期货经纪有限公司 Jinpeng International Futures Co., Ltd. 北京市金鹏信息技术有限责任公司 68.29% N N 81 金瑞期货股份有限公司 Jinrui Futures Co., Ltd. 江西铜业(北京)国际投资有限公司 72.09% N N 82 金石期货有限公司 Jinshi Futures Co., Ltd. 新疆生产建设兵团投资有限责任公司 62.88% N N 83 锦泰期货有限公司 84 津投期货经纪有限公司 Jintai Futures Co., Ltd. Tianjin Jintou Futures Brokerage Co., Ltd. 江苏省投资管理有限责任公司 天津津融投资服务集团有限公司 40.00% N N 41.18% N N * denotes listed securities company # denotes Sino-foreign futures joint venture Sources: official websites of futures companies, CSRC, China Futures Association © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
151. 二零一七年中国证券业调查报告 148 Number 机构名称 序号 85 福能期货股份有限公司 86 江信国盛期货有限责任公司 87 江西瑞奇期货经纪有限公司 88 深圳瑞龙期货有限公司 89 鲁证期货股份有限公司 90 迈科期货股份有限公司 91 美尔雅期货有限公司 92 五矿经易期货有限公司 93 民生期货有限公司 94 神华期货有限公司 95 南华期货股份有限公司 96 南证期货有限责任公司 97 新纪元期货股份有限公司 98 深圳金汇期货经纪有限公司 99 天风期货股份有限公司 100 上海东证期货有限公司 101 东方汇金期货有限公司 102 平安期货有限公司 103 乾坤期货有限公司 104 瑞达期货股份有限公司 105 山西三立期货经纪有限公司 106 东吴期货有限公司 107 国投安信期货有限公司 108 上海中期期货股份有限公司 109 上海大陆期货有限公司 110 上海东亚期货有限公司 111 铜冠金源期货有限公司 112 建信期货有限责任公司 113 上海东方期货经纪有限责任 公司 114 瑞银期货有限责任公司 Institution name The Largest shareholder 第一大股东 Fujian Energy Futures Agency Co., Ltd. Jiangxin Guosheng Futures Co., Ltd. Jiangxi Rich Futures Brokerage Co., Ltd. Shenzhen Luckyloong Futures Co., Ltd. Luzheng Futures Co., Ltd. 福建省能源集团有限责任公司 国盛证券有限责任公司 江西省粮油集团有限公司 深圳市新永湘投资有限公司 中泰证券股份有限公司 Stake as at 31 Mar 2017 持股比例 (2017年3月 31日) Invested by Securities companies 是否证券 公司投资 Sinoforeign JV 是否中外 合资期货 公司 79.25% N N 97.55% Y N 45.43% N N 76.92% N N 87.47% Y N Maike Futures Co., Ltd. 西安迈科金属国际集团有限公司 58.89% N N Mailyard Futures Agency Co., Ltd. 湖北美尔雅股份有限公司 45.08% N N Minmetals & Jingyi Futures Co., Ltd. 五矿资本控股有限公司 99.00% N N Minsheng Futures Co., Ltd. 民生证券股份有限公司 95.87% Y N Miracle China Futures Co., Ltd. 深圳市神华投资集团有限公司 70.00% N N Nanhua Futures Co., Ltd. 横店集团控股有限公司 83.35% N N Nanzheng Futures Co., Ltd. 南京证券股份有限公司 100.00% Y N New Era Futures Co., Ltd. 沣沅弘(北京)控股集团有限公司 90.00% N N Shenzhen Jinhui Futures Brokerage Co., Ltd. 深圳市中金岭南有色金属股份有限公司 100.00% N N TF Furtures Co., Ltd. 天风证券股份有限公司 77.79% Y N Orient Securities Futures Co., Ltd. 东方证券股份有限公司* 100.00% Y N Oriental Huijin Futures Co., Ltd. 北京纽森特投资有限公司 76.92% N N Pingan Futures Co., Ltd. 平安证券有限责任公司 93.93% Y N Qiankun Futures Co., Ltd. 北京高华证券有限责任公司 100.00% Y N Ruida Futures Co., Ltd. 泉州市佳诺实业有限责任公司 Shanxi Sanli Futures Brokerage Co., Ltd. 北京金海投资有限公司 Soochow Futures Brokerage Co., Ltd. 东吴证券股份有限公司* 84.08% N N 66.00% N N 93.80% Y N SDIC Essence Futures Co., Ltd. 安信证券股份有限公司 100.00% Y N Shanghai CIFCO Futures Co., Ltd. 兖矿集团有限公司 66.67% N N Shanghai Dalu Futures Co., Ltd. 中山证券有限责任公司 51.00% Y N Shanghai East Asia Futures Co., Ltd. 上海和鸿企业发展有限公司 97.60% N N Tongguan Jin Yuan Furtures Co., Ltd. 铜陵有色金属集团上海投资贸易有限 公司 79.00% N N CCB Furtures Co., Ltd. 建信信托有限责任公司 80.00% N N Shanhai East Futures Co., Ltd. 中铝上海铜业有限公司 75.00% N N UBS Furtures Co., Ltd. 瑞银证券有限责任公司 100.00% Y N * 代表上市证券公司 # 代表中外合资期货公司 资料来源:期货公司官网,中国证券管理委员会,中国期货业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
152. 149 Mainland China Securities Survey 2017 Mainland Futures Companies 内地期货公司名单 Number 机构名称 序号 Institution name The Largest shareholder 第一大股东 Stake as at 31 Mar 2017 持股比例 (2017年3月 31日) Invested by Securities companies 是否证券 公司投资 Sinoforeign JV 是否中外 合资期货 公司 115 通惠期货有限公司 Tonghui Futures Co., Ltd. 中国万向控股有限公司 60.00% N N 116 中财期货有限公司 Zhongcai Futures Co., Ltd. 上海中财实业发展有限公司 99.00% N N 117 兴业期货有限公司 China Industrial Futures Co., Ltd. 兴业国际信托有限公司 92.20% N N 118 盛达期货有限公司 Shengda Futures Co., Ltd. 杭州盛顺实业投资有限公司 96.00% N N 119 晟鑫期货经纪有限公司 Shengxin Futures Co., Ltd. 阳泉信达投资管理公司 65.20% N N 120 申银万国期货有限公司 Shenyin & Wanguo Futures Co., Ltd. 申万宏源证券有限公司 96.21% Y N 121 国金期货有限责任公司 Sinolink Futures Co., Ltd. 国金证券股份有限公司* 100.00% Y N 122 上海浙石期货经纪有限公司 Sinopec Shanghai Zheshi Futures Co., Ltd. 中国石油化工集团公司 95.00% N N 123 中钢期货有限公司 Sinosteel Futures Co., Ltd. 中钢投资有限公司/中钢贸易有限公司/ 中钢炉料有限公司 29.24% N N 124 西南期货有限公司 Southwest Futures Co., Ltd. 西南证券股份有限公司* 100.00% Y N 125 集成期货股份有限公司 Success Futures Co., Ltd. 佛山市集成金融集团有限公司 58.54% N N 126 天富期货有限公司 Tianfu Futures Co., Ltd. 吉林省信托有限责任公司 55.00% N N 127 天鸿期货经纪有限公司 Tianhong Futures Brokerage Co., Ltd. 上海天美珠宝有限公司 78.67% N N 128 同信久恒期货有限责任公司 Tongxin Jiuheng Futures Co., Ltd. 西藏东方财富证券股份有限公司 96.84% Y N 129 海航期货股份有限公司 HNA Futures Co., Ltd. 长江租赁有限公司 91.19% N N 130 德盛期货有限公司 Triumph Futures Co., Ltd. 财富证券有限责任公司 100.00% Y N 131 华信期货股份有限公司 132 前海期货有限公司 133 西部期货有限公司 CEFC Futures Co., Ltd. Qianhai Futures Co., Ltd. Western Futures Co., Ltd. 上海华信国际集团有限公司 90.32% N N 浙江卓远投资有限公司/浙江金合实业 有限公司/浙江泰融中小企业金融服务 股份有限公司/深圳市前海金融控股有 20.00% N N 限公司 西部证券股份有限公司* 100.00% Y N 134 山金期货有限公司 Shandong Gold Furtures Co., Ltd. 山金金控资本管理有限公司 100.00% N N 135 中电投先融期货股份有限公司 SPIC Xianrong Futures Co., Ltd. 国家电投集团资本控股有限公司 38.00% N N 136 鑫鼎盛期货有限公司 Xindingsheng Futures Co., Ltd. 厦门市鑫鼎盛控股有限公司 98.75% N N 137 新湖期货有限公司 Xinhu Futures Co., Ltd. 杭州兴和投资发展有限公司 54.00% N N 138 新疆天利期货经纪有限公司 Xinjiang Tianli Futures Brokerage Co., Ltd. 新疆克拉玛依市采丰实业有限责任公司 51.00% N N 139 新晟期货有限公司 Xinsheng Futures Co., Ltd. 广东省广新控股集团有限公司 51.00% N N 140 英大期货有限公司 Yingda Futures Co., Ltd. 英大证券有限责任公司 77.00% Y N 141 中天期货有限责任公司 Zhongtian Futures Co., Ltd. 中天证券股份有限公司 100.00% Y N 142 永安期货股份有限公司 Yongan Futures Co., Ltd. 财通证券股份有限公司 33.54% Y N 143 云晨期货有限责任公司 Yunchen Futures Co., Ltd. 云南铜业(集团)有限公司 60.00% N N * denotes listed securities company # denotes Sino-foreign futures joint venture Sources: official websites of futures companies, CSRC, China Futures Association © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
153. 二零一七年中国证券业调查报告 150 Number 机构名称 序号 Institution name The Largest shareholder 第一大股东 144 招金期货有限公司 145 浙江新世纪期货有限公司 146 浙商期货有限公司 147 中融汇信期货有限公司 148 中大期货有限公司 149 中辉期货有限公司 150 中州期货有限公司 Zhao Jin Futures Co., Ltd. 山东招金金银精炼有限公司 New Century Futures Co., Ltd. 浙商控股集团有限公司 Zheshang Futures Co., Ltd. 浙商证券股份有限公司* Zhong Rong Hui Xin Futures Co., Ltd. 上海融晟投资有限公司 Zhongda Futures Co., Ltd. 浙江中大集团投资有限公司 Zhonghui Futures Co., Ltd. 山西中辉贸易有限公司 Zhongzhou Futures Co., Ltd. 德邦证券股份有限公司 Stake as at 31 Mar 2017 持股比例 (2017年3月 31日) Invested by Securities companies 是否证券 公司投资 Sinoforeign JV 是否中外 合资期货 公司 49.96% N N 46.71% N N 100.00% Y N 94.50% N N 49.00% N N 45.00% N N 70.00% Y N * 代表上市证券公司 # 代表中外合资期货公司 资料来源:期货公司官网,中国证券管理委员会,中国期货业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
154. 151 Mainland China Securities Survey 2017 Appendix 9 Mainland Fund Management Companies 附录9 内地基金公司名单 List of fund management companies (FMC)approved by the CSRC (31 March 2017) 截至2017年3月31日,获证监会批准的基金公司名单 Number 机构名称 序号 Institution name Registration The Largest shareholder place 第一大股东 注册地 Stake as at 31 Mar 2017 持股比例 (2017年3 月31日) Sinoforeign JV 是否中外 合资基金 公司 Alternative investment subsidiaries 是否成立专 户子公司 券商系基金公司 FMCs invested by securities companies 1 兴全基金管理有限公司 Aegon-Industrial Fund Management Co.,Ltd. 上海 兴业证券股份有限公司* 2 中航基金管理有限公司 AVIC Fund Management Co.,Ltd. 北京 中航证券有限公司 51% Y Y 100% N N 3 博时基金管理有限公司 Bosera Asset Management Co., Ltd. 深圳 招商证券股份有限公司* 49% N Y 4 财通基金管理有限公司 Caitong Fund Magagement Co.,Ltd. 上海 财通证券股份有限公司 5 国开泰富基金管理有限责任 公司 CDBS Cathay Asset Management Co.,Ltd. 北京 国开证券有限责任公司 6 长信基金管理有限责任公司 Chang Xin Asset Management Co.,Ltd. 上海 长江证券股份有限公司* 40% N Y 67% Y Y 45% N Y 7 长盛基金管理有限公司 Changsheng Fund Management Co.,Ltd. 深圳 国元证券股份有限公司* 41% Y Y 8 华夏基金管理有限公司 China Asset Management Co., Ltd. 北京 中信证券股份有限公司* 62% Y Y 9 中信建投基金管理有限公司 China Fund Management Co., Ltd. 北京 中信建投证券股份有限公司* 55% N Y 10 中邮创业基金管理股份有限 公司 China Post & Capital Fund Management Co.,Ltd. 北京 首创证券有限责任公司 47% Y Y 11 南方基金管理有限公司 China Southern Asset Management Co,. Ltd. 深圳 华泰证券股份有限公司* 45% N Y 12 汇添富基金管理股份有限公司 China Universal Asset Management Co., Ltd. 上海 东方证券股份有限公司* 35% N Y 13 中金基金管理有限公司 CICC Fund Management Co., Ltd. 北京 中国国际金融股份有限公司* 100% N N 14 东海基金管理有限责任公司 Donghai Fund Management Co., Ltd. 上海 东海证劵股份有限公司 45% N Y 15 易方达基金管理有限公司 E Fund Management Co.,Ltd. 广东粤财信托有限公司/ 广东 广发证券股份有限公司*/ 25% N Y 盈峰投资控股集团有限公司 16 光大保德信基金管理有限公司 Everbright Pramerica Fund Management Co.,Ltd. 上海 光大证券股份有限公司* 55% Y Y 开源证劵股份有限公司/北京 市中盛金期投资管理有限公司 17 前海开源基金管理有限公司 First Seafront Fund Management Co.,Ltd. 深圳 /北京长和世纪资产管理有限 25% N Y 公司/深圳市和合投信资产管 理合伙企业(有限合伙) 18 信达澳银基金管理有限公司 First State Cinda Fund Management Co.,Ltd. 深圳 信达证券股份有限公司 54% Y Y 19 方正富邦基金管理有限公司 Founder Fubon Fund Management Co.,Ltd. 北京 方正证券股份有限公司* 67% Y Y 20 国海富兰克林基金管理有限 Franklin Templeton Sealand Fund 公司 Management Co.,Ltd. 南宁 国海证券股份有限公司* 51% Y Y 21 富安达基金管理有限公司 Fuanda Fund Management Co.,Ltd. 上海 南京证券股份有限公司 49% N Y 22 富国基金管理有限公司 Fullgoal Fund Management Co., Ltd. 上海 海通证券股份有限公司*/ 申万宏源证券有限公司/ 加拿大蒙特利尔银行 28% Y Y 23 广发基金管理有限公司 GF Fund Management Co., Ltd. 广东 广发证券股份有限公司* 51% N Y 24 国金基金管理有限公司 Gfund Management Co.,Ltd. 北京 国金证券股份有限公司* 49% N Y * denotes listed securities company Sources: official websites of Fund Management companies, CSRC, Asset Management Association of China © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
155. 二零一七年中国证券业调查报告 152 Number 机构名称 序号 Institution name Registration The Largest shareholder place 第一大股东 注册地 Stake as at 31 Mar 2017 持股比例 (2017年3 月31日) Sinoforeign JV 是否中外 合资基金 公司 Alternative investment subsidiaries 是否成立专 户子公司 25 金鹰基金管理有限公司 Golden Egale Fund Management Co., Ltd. 广东 广州证券股份有限公司 49% Y Y 26 金元顺安基金管理有限公司 Goldstate Captial Fund Management Co., Ltd. 上海 金元证券股份有限公司 51% Y Y 27 长城基金管理有限公司 Greatwall FundManagement Co., Ltd. 深圳 长城证券股份有限公司 47% N Y 28 国联安基金管理有限公司 Guotai Junan Allianz Fund Management Co., Ltd. 上海 国泰君安证券股份有限公司* 51% Y N 29 华富基金管理有限公司 Harfor Fund Management Co.,Ltd. 上海 华安证券股份有限公司* 49% N Y 30 海富通基金管理有限公司 HFT Investment Management Co.,Ltd. 上海 31 红塔红土基金管理有限公司 Hongta Hotland Asset Management Co.,Ltd. 深圳 32 华商基金管理有限公司 Huashang Fund Management Co.,Ltd. 北京 33 华泰柏瑞基金管理有限公司 Huatai-Pinebridge Fund Management Co., Ltd. 上海 34 景顺长城基金管理有限公司 Invesco Great Wall Fund Management Co.,Ltd. 深圳 35 江信基金管理有限公司 Jiangxin Fund Management Co.,Ltd. 北京 36 摩根士丹利华鑫基金管理有 Morgan Stanley Huaxin Funds 限公司 Management Co., Ltd. 深圳 37 新华基金管理股份有限公司 New China Fund Management Co.,Ltd. 重庆 海通证券股份有限公司* 红塔证劵股份有限公司 华龙证券股份有限公司 华泰证券股份有限公司*/ 柏瑞投资有限责任公司 长城证券股份有限公司/ 景顺资产管理有限公司 国盛证券有限责任公司 华鑫证券有限责任公司 恒泰证券股份有限公司* 51% Y Y 49% N Y 46% N N 49% Y Y 49% Y Y 30% N N 40% Y N 59% N Y 38 东方基金管理有限责任公司 Orient Fund Management Co.,Ltd. 北京 东北证券股份有限公司* 64% N Y 39 鹏华基金管理有限公司 Penghua Fund Management Co.,Ltd. 深圳 国信证券股份有限公司* 50% Y Y 40 融通基金管理有限公司 Rong Tong Fund Management Co.,Ltd. 深圳 新时代证券股份有限公司 60% Y Y 41 东吴基金管理有限公司 Soochow Asset Management Co.,Ltd. 上海 东吴证券股份有限公司* 70% N Y 42 申万菱信基金管理有限公司 SWS MU Fund Management Co.,Ltd. 上海 申万宏源证券有限公司 67% Y Y 43 德邦基金管理有限公司 Tebon Fund Management Co., Ltd. 上海 德邦证券股份有限公司 70% N Y 44 创金合信基金管理有限公司 Truvalue Asset Management Co., Ltd. 深圳 第一创业证券股份有限公司* 70% N N 45 万家基金管理有限公司 Wan Jia Asset Management Co.,Ltd. 上海 46 西部利得基金管理有限公司 Western Leadbank Fund Management Co.,Ltd. 上海 47 兴银基金管理有限责任公司 XingyinFund Management Co., Ltd. 福建 中泰证券股份有限公司 西部证券股份有限公司* 华福证券有限责任公司 49% N Y 51% N N 76% N Y 48 银华基金管理股份有限公司 Yin Hua Fund Management Co.,Ltd. 深圳 西南证券股份有限公司* 49% N Y 浙商证券股份有限公司*/ 49 浙商基金管理有限公司 ZheShang Fund Management Co., Ltd. 杭州 养生堂有限公司/ 通联资本管理有限公司/ 25% N Y 浙江浙大网新集团有限公司 信托系基金公司 FMCs invested by trust companies 50 宝盈基金管理有限公司 Baoying Fund Management Co.,Ltd. 深圳 中铁信托有限责任公司 75% N Y * 代表上市证券公司 资料来源:各基金公司网站,证监会,证券投资基金业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
156. 153 Mainland China Securities Survey 2017 Number 机构名称 序号 Institution name Registration The Largest shareholder place 第一大股东 注册地 Stake as at 31 Mar 2017 持股比例 (2017年3 月31日) Sinoforeign JV 是否中外 合资基金 公司 Alternative investment subsidiaries 是否成立专 户子公司 51 北信瑞丰基金管理有限公司 Beixin Ruifeng Fund Management Co., Ltd. 北京 北京国际信托有限公司 60% N Y 52 长安基金管理有限公司 ChangAn Fund Management Co.,Ltd. 上海 长安国际信托股份有限公司 30% N Y 53 上投摩根基金管理有限公司 China International Fund Management Co.,Ltd. 上海 上海国际信托有限公司 51% Y Y 54 天治基金管理有限公司 China Nature Asset Management Co.,Ltd. 上海 吉林省信托有限责任公司 61% N Y 55 信诚基金管理有限公司 CITIC-Prudential Fund Management Company Ltd. 上海 中信信托有限责任公司/ 英国保诚集团股份有限公司 49% Y Y 56 华润元大基金管理有限公司 CR Yuanta Fund Management Co., Ltd. 深圳 华润深国投信托有限公司 51% Y Y 57 大成基金管理有限公司 Dacheng Fund Management Co.,Ltd. 深圳 中泰信托投资有限责任公司 50% N Y 58 泰信基金管理有限公司 First-trust Fund Management Co.,Ltd. 上海 山东省国际信托股份有限公司 45% N Y 59 华宝兴业基金管理有限公司 Fortune SG Fund Management Co.,Ltd. 上海 60 圆信永丰基金管理有限公司 Golden Trust Sinopac Fund Management Co., Ltd. 福建 61 嘉实基金管理有限公司 Harvest Fund Management Co., Ltd. 上海 华宝信托有限责任公司 厦门国际信托有限公司 中诚信托有限责任公司 51% Y N 51% Y N 40% Y Y 62 汇丰晋信基金管理有限公司 HSBC Jintrust Fund Management Co.,Ltd. 上海 山西信托股份有限公司 51% Y N 上海国际信托有限公司/上海 电气(集团)总公司/上海工业 63 华安基金管理有限公司 Hua An Fund Management Co.,Ltd. 上海 投资(集团)有限公司/国泰君 20% N Y 安投资管理股份有限公司/上 海锦江国际投资管理有限公司 64 嘉合基金管理有限公司 JYAH Asset Management Co., Ltd. 上海 中航信托股份有限公司 30% N N 中国对外经济贸易信托有限 65 诺安基金管理有限公司 Lion Fund Management Co., Ltd. 深圳 公司/ 40% N Y 深圳市捷隆投资有限公司 66 泰达宏利基金管理有限公司 Manulife Teda Fund Management Co.,Ltd. 北京 北方国际信托股份有限公司 51% Y N 67 华宸未来基金管理有限公司 Mirae Asset Management Co., Ltd. 上海 华宸信托有限责任公司 40% Y Y 68 平安大华基金管理有限公司 Ping An UOB Fund Management Co.,Ltd. 深圳 平安信托有限责任公司 61% Y Y 69 国投瑞银基金管理有限公司 UBS SDIC Fund Management Co., Ltd. 深圳 国投泰康信托有限公司 51% Y Y 70 益民基金管理有限公司 YIMIN Asset Management Co., Ltd. 重庆 重庆国际信托投资有限公司 49% N Y 71 英大基金管理有限公司 Yingda Asset Management Co.,Ltd. 北京 英大国际信托有限责任公司 49% N Y 72 中海基金管理有限公司 Zhonghai Fund Management Co.,Ltd. 上海 中海信托股份有限公司 42% Y Y 73 中融基金管理有限公司 Zhongrong Fund Management Co., Ltd. 北京 中融国际信托有限公司 51% N Y 银行系基金公司 FMCs invested by banks 74 农银汇理基金管理有限公司 ABC-CA Fund Management Co., Ltd. 上海 中国农业银行股份有限公司 52% Y Y 75 浦银安盛基金管理有限公司 AXA SPDB Investment Managers Co., Ltd. 上海 上海浦东发展银行股份有限 公司 51% Y Y 76 中加基金管理有限公司 Bank of Beijing Scotiabank Asset Management Co., Ltd. 北京 北京银行股份有限公司 62% Y Y 77 中银基金管理有限公司 Bank of China Investment Management Co., Ltd. 上海 中国银行股份有限公司 84% Y Y 78 交银施罗德基金管理有限公司 Bank of Communications Schroders Fund Management Co., Ltd. 上海 交通银行股份有限公司 65% Y Y 79 上银基金管理有限公司 BOSC Asset Management Co., Ltd. 上海 上海银行股份有限公司 90% N Y 80 建信基金管理有限责任公司 CCB Principal Asset Management Co.,Ltd. 北京 中国建设银行股份有限公司 65% Y Y * denotes listed securities company Sources: official websites of Fund Management companies, CSRC, Asset Management Association of China © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
157. 二零一七年中国证券业调查报告 154 Number 机构名称 序号 Institution name Registration The Largest shareholder place 第一大股东 注册地 Stake as at 31 Mar 2017 持股比例 (2017年3 月31日) Sinoforeign JV 是否中外 合资基金 公司 Alternative investment subsidiaries 是否成立专 户子公司 81 招商基金管理有限公司 China Merchants Fund Management Co.,Ltd. 深圳 招商银行股份有限公司 55% N Y 82 兴业基金管理有限公司 CIB Fund Management Co., Ltd. 福建 兴业银行股份有限公司 90% N Y 83 恒生前海基金管理有限公司 Hang Seng Qian Hai Fund Management Co.,Ltd. 深圳 恒生银行有限公司 70% Y N 84 工银瑞信基金管理有限公司 ICBC Credit Suisse Asset Management Co., Ltd. 北京 中国工商银行股份有限公司 80% Y Y 85 永赢基金管理有限公司 Maxwealth Fund Management Co., Ltd. 浙江 宁波银行股份有限公司 71% Y Y 86 民生加银基金管理有限公司 Minsheng Royal Fund Management Co.,Ltd. 深圳 中国民生银行股份有限公司 63% Y Y 87 鑫元基金管理有限公司 Xinyuan Asset Management Co., Ltd. 上海 南京银行股份有限公司 80% N Y 88 中欧基金管理有限公司 Zhong Ou Asset Management Co., Ltd. 上海 意大利意联银行股份合作公司 35% Y Y 其他 Others 89 国寿安保基金管理有限公司 China Life AMP Asset Management Co., Ltd. 上海 中国人寿资产管理有限公司 85% Y Y 90 中科沃土基金管理有限公司 CS Richland Asset Management Co.,Ltd. 珠海 广东中科招商创业投资管理有 限责任公司 51% N N 91 安信基金管理有限责任公司 Essence Fund Co.,Ltd. 深圳 五矿资本控股有限公司 39% N Y 92 富荣基金管理有限公司 Furong Fund Management Co.,Ltd. 广州 广州科技金融创新投资控股 有限公司 50% N N 93 银河基金管理有限公司 Galaxy Asset Management Co., Ltd. 上海 中国银河金融控股有限责任 公司 50% N Y 94 格林基金管理有限公司 Green Fund Management Co.,Ltd. 北京 河南省安融房地产开发有限 公司 100% N N 95 国泰基金管理有限公司 Guotai Asset Management Co., Ltd. 上海 中国建银投资有限责任公司 60% Y Y 96 泓德基金管理有限公司 Hongde Fund Management Co., Ltd. 西藏 王德晓 26% N N 97 汇安基金管理有限责任公司 Horizon Asset Management Co.,Ltd. 上海 何斌 36% N N 98 红土创新基金管理有限公司 Hotland Innovation Asset Management Co., Ltd. 深圳 创新投资集团有限公司 100% N N 99 华泰保兴基金管理有限公司 Huatai Baoxing Fund Management Co.,Ltd. 上海 华泰保险集团股份有限公司 78% N N 100 九泰基金管理有限公司 JT Asset Management Co., Ltd. 北京 昆吾九鼎投资管理有限公司 26% N N 101 金信基金管理有限公司 JX Asset Management Co., Ltd. 深圳 深圳市卓越创业投资有限责 任公司 34% N N 102 诺德基金管理有限公司 Lord Abbett China Asset Management Co.,Ltd. 上海 清华控股有限公司 51% N N 103 南华基金管理有限公司 Nanhua Fund Management Co.,Ltd. 浙江 南华期货股份有限公司 100% N N 104 鹏扬基金管理有限公司 Pengyang Asset Management Co.,Ltd. 上海 杨爱斌 55% N N 105 新疆前海联合基金管理有限 Qianhai Alliance Asset Management 公司 Co.,Ltd. 新疆 深圳市钜盛华股份有限公司 30% N N 106 新沃基金管理有限公司 Sinvo Fund Management Co.,Ltd. 上海 新沃资本控股集团有限公司 70% N N 107 太平基金管理有限公司 Taiping Fund Management Co.,Ltd. 上海 太平资产管理有限公司 100% N N 108 天弘基金管理有限公司 Tianhong Asset Management Co.,Ltd. 天津 浙江蚂蚁小微金融服务集团 有限公司 51% N Y 109 先锋基金管理有限公司 V-Fund Management Co.,Ltd. 北京 联合创业集团有限公司 38% N N * 代表上市证券公司 资料来源:各基金公司网站,证监会,证券投资基金业协会 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
158. 155 Mainland China Securities Survey 2017 Appendix 10 Subsidiaries of Mainland Fund Management Companies 附录10 内地基金公司子公司名单 List of subsidiaries of fund management companies approved by the CSRC (31 March 2017) 截至2017年3月31日,获证监会批准的基金公司子公司名单 Number 机构名称 序号 Institution name 母公司名称 1 工银瑞信投资管理有限公司 ICBC Credit Suisse Investment Management Co., Ltd. 工银瑞信基金管理有限公司 2 嘉实资本管理有限公司 Harvest Capital Management Co., Ltd. 嘉实基金管理有限公司 3 深圳平安大华汇通财富管理有限公司 Shenzhen Ping An Uob Investment Management Co., Ltd. 平安大华基金管理有限公司 4 华夏资本管理有限公司 China Capital Management Co., Ltd. 华夏基金管理有限公司 5 北京方正富邦创融资产管理有限公司 Beijing Funder Fubon Asset Management Co., Ltd. 方正富邦基金管理有限公司 6 长安财富资产管理有限公司 ChangAn Wealth Asset Management Co., Ltd. 长安基金管理有限公司 7 富安达资产管理(上海)有限公司 Fuanda Asset Management Co., Ltd. 富安达基金管理有限公司 8 上海兴全睿众资产管理有限公司 Wisdom Asset Management Co., Ltd. 兴全基金管理有限公司 9 北京千石创富资本管理有限公司 Beijing Qian Shi Chuang Fu Capital Management Co., Ltd. 国金基金管理有限公司 10 深圳市红塔资产管理有限公司 Shenzhen Hongta Asset Management Co., Ltd. 红塔红土基金管理有限公司 11 鹏华资产管理有限公司 Penghua Asset Management Co., Ltd. 鹏华基金管理有限公司 12 天弘创新资产管理有限公司 Tianhong Asset Management Co., Ltd. 天弘基金管理有限公司 13 民生加银资产管理有限公司 Minsheng Royal Asset Management Co., Ltd. 民生加银基金管理有限公司 14 上海新东吴优胜资产管理有限公司 Shanghai Xin Soochow Asset management Co., Ltd. 东吴基金管理有限公司 15 上海锐懿资产管理有限公司 Shanghai Ruiyi Asset Management Co., Ltd. 泰信基金管理有限公司 16 万家共赢资产管理有限公司 Wan Jia Gong Ying Asset Management Co., Ltd. 万家基金管理有限公司 17 首誉资产管理有限公司 Shou Yu Asset Management Co., Ltd. 中邮创业基金管理股份有限公司 18 招商财富资产管理有限公司 China Merchants Wealth Asset Management Co., Ltd. 招商基金管理有限公司 19 博时资本管理有限公司 Bosera Capital Management Co., Ltd. 博时基金管理有限公司 20 德邦创新资本有限责任公司 Tebon Innovation Capital Co., Ltd. 德邦基金管理有限公司 21 上海金元百利资产管理有限公司 Shanghai Value Partners Goldstate Asset Management Co., Ltd. 金元顺安基金管理有限公司 22 上海聚潮资产管理有限公司 Shanghai Ju Chao Asset Management Co., Ltd. 浙商基金管理有限公司 23 汇添富资本管理有限公司 China Universal Capital Management Co., Ltd. 汇添富基金管理股份有限公司 24 信达新兴财富(北京)资产管理有限公司 Cinda Xin Xing Wealth (Beijing) Asset Management Co., Ltd. 信达澳银基金管理有限公司 25 银华财富资本管理(北京)有限公司 Yin Hua Capital Management (Beijing) Co., Ltd. 银华基金管理股份有限公司 26 深圳华宸未来资产管理有限公司 Shenzhen Huachen Mirae Asset Management Co., Ltd. 华宸未来基金管理有限公司 27 国泓资产管理有限公司 Guo Hong Asset Management Co., Ltd. 益民基金管理有限公司 28 北京新华富时资产管理有限公司 Shenzhen Xin Hua Fu Shi Asset Management Co., Ltd. 新华基金管理股份有限公司 29 中信信诚资产管理有限公司 CITIC-Prudential Asset Management Co., Ltd. 信诚基金管理有限公司 30 深圳市融通资本管理股份有限公司 Shenzhen Rong Tong Capital Wealth Management Co., Ltd. 融通基金管理有限公司 31 国泰元鑫资产管理有限公司 Guotai Yuanxin Asset Management Co., Ltd. 国泰基金管理有限公司 32 上海华富利得资产管理有限公司 Shanghai Harfor Lead Asset Management Co., Ltd. 华富基金管理有限公司 33 上海财通资产管理有限公司 Shanghai Caitong Asset Management Co., Ltd. 财通基金管理有限公司 34 建信资本管理有限责任公司 CCB Principal Capital Management Co., Ltd. 建信基金管理有限责任公司 35 瑞元资本管理有限公司 Rui Yuan Asset Management Co., Ltd. 广发基金管理有限公司 36 易方达资产管理有限公司 E Asset Management Co.Ltd. 易方达基金管理有限公司 37 兴业财富资产管理有限公司 CIB Asset Management Co., Ltd. 兴业基金管理有限公司 Sources: CSRC © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
159. 二零一七年中国证券业调查报告 156 Parent company name Registered Capital (RMB '0000) 注册资本 (人民币万元) 注册地点 Registration Place Approval date 批复时间 (Month/ Year) ICBC Credit Suisse Asset Management Co., Ltd. Harvest Fund Management Co., Ltd. Ping An Uob Fund Management Co., Ltd. China Asset Management Co., Ltd. Founder Fubon Fund Management Co.,Ltd. ChangAn Fund Management Co.,Ltd. Fuanda Fund Management Co.,Ltd. Aegon-Industrial Fund Management Co.,Ltd. Gfund Management Co.,Ltd. Hongta Hotland Asset Management Co.,Ltd. Penghua Fund Management Co., Ltd. Tianhong Asset Management Co.,Ltd. Minsheng Royal Fund Management Co.,Ltd. Soochow Asset Management Co.,Ltd. First-trust Fund Management Co.,Ltd. Wan Jia Asset Management Co.,Ltd. China Post & Capital Fund Management Co.,Ltd. China Merchants Fund Management Co.,Ltd. Bosera Funds Management Co., Ltd. Tebon Fund Management Co., Ltd. Value Partners Goldstate Fund Management Co., Ltd. Zhe Shang Fund ManagementCo.,Ltd. China Universal Asset Management Co., Ltd. First State Cinda Fund Management Co.,Ltd. Yin Hua Fund Management Co.,Ltd. Mirae Asset Management Co., Ltd. YIMIN Asset Management Co., Ltd. New China Fund Management Co.,Ltd. CITIC-Prudential Fund Management Company Ltd. Rong Tong Fund Management Co.,Ltd. Guotai Asset Management Co., Ltd. Harfor Fund Management Co.,Ltd. Caitong Fund Magagement Co.,Ltd. CCB Principal Asset Management Co.,Ltd. GF Fund Management Co., Ltd. E Fund Management Co.,Ltd. CIB Fund Management Co., Ltd. 120,000 上海 30,000 北京 20,000 深圳 35,000 深圳 2,000 北京 10,000 上海 2,000 上海 8,000 上海 2,000 北京 2,000 深圳 10,000 深圳 60,000 北京 12,500 广州 5,000 上海 2,000 上海 6,000 上海 12,000 深圳 10,000 深圳 10,000 深圳 20,000 上海 3,053 上海 2,000 上海 20,000 上海 2,000 北京 3,920 北京 3,000 深圳 10,000 北京 18,000 深圳 5,000 上海 10,000 深圳 5,000 上海 3,500 上海 2,000 上海 105,000 上海 7,500 珠海 12,000 珠海 38,000 上海 Shanghai Beijing Shenzhen Shenzhen Beijing Shanghai Shanghai Shanghai Beijing Shenzhen Shenzhen Beijing Guangzhou Shanghai Shanghai Shanghai Shenzhen Shenzhen Shenzhen Shanghai Shanghai Shanghai Shanghai Beijing Beijing Shenzhen Beijing Shenzhen Shanghai Shenzhen Shanghai Shanghai Shanghai Shanghai Zhuhai Zhuhai Shanghai 11/2012 11/2012 11/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 12/2012 01/2013 01/2013 01/2013 01/2013 01/2013 02/2013 02/2013 02/2013 02/2013 02/2013 02/2013 02/2013 03/2013 03/2013 03/2013 03/2013 04/2013 04/2013 05/2013 05/2013 05/2013 05/2013 06/2013 06/2013 06/2013 资料来源:证监会网站 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
160. 157 Mainland China Securities Survey 2017 Number 机构名称 序号 Institution name 母公司名称 38 天治北部资产管理有限公司 39 深圳前海金鹰资产管理有限公司 40 中海恒信资产管理(上海)有限公司 41 国投瑞银资本管理有限公司 42 富国资产管理(上海)有限公司 43 长城嘉信资产管理有限公司 44 上海长江财富资产管理有限公司 45 中欧盛世资产管理(上海)有限公司 46 东方汇智资产管理有限公司 47 东海瑞京资产管理(上海)有限公司 48 诺安资产管理有限公司 49 前海开源资产管理有限公司 50 农银汇理(上海)资产管理有限公司 51 景顺长城资产管理(深圳)有限公司 52 中融(北京)资产管理有限公司 53 华安未来资产管理(上海)有限公司 54 大成创新资本管理有限公司 55 南方资本管理有限公司 56 长盛创富资产管理有限公司 57 上海浦银安盛资产管理有限公司 58 安信乾盛财富管理(深圳)有限公司 59 中铁宝盈资产管理有限公司 60 交银施罗德资产管理有限公司 61 深圳华润元大资产管理有限公司 Tianzhi Asset Management Co.,Ltd. Shenzhenqianhai Golden Egale Asset Management Co., Ltd. Zhong Hai Heng Xin Asset Management Co.,Ltd. UBS SDIC Asset Management Co., Ltd. Fullgoal Asset Management Co., Ltd. Greatwall Jia Xin Asset Management Co., Ltd. Shanghai Chang Jiang Wealth Asset Manangement Co.,Ltd. Shen Zhen Lombarda China Asset Management Co.,Ltd. Orient Hui Zhi Asset Management Co.,Ltd. Shanghai Rui Jing Asset Management Co.,Ltd. Lion Asset Management Co., Ltd. Qianhaikaiyuan Asset Management Co.,Ltd. ABC-CA Asset Management Co., Ltd. Investcogreatwall Asset Management Co.,Ltd. SSGA Asset Management Co., Ltd. Hua An Furture Asset Manangement Co.,Ltd. Dacheng Innovative Capital Management Co.,Ltd. Southern Asset Management Ltd. Changsheng Chuangfu Wealth Asset Management Co.,Ltd. AXA SPDB Asset Managers Co., Ltd. Essence Asset Co., Ltd. China Railway Bao Ying Asset Management Ltd. Bank of Communications Schroders Asset Management Co., Ltd. Shenzhen Huarunyuanda Asset Management Co., Ltd. 天治基金管理有限公司 金鹰基金管理有限公司 中海基金管理有限公司 国投瑞银基金管理有限公司 富国基金管理有限公司 长城基金管理有限公司 长信基金管理有限责任公司 中欧基金管理有限公司 东方基金管理有限责任公司 东海基金管理有限责任公司 诺安基金管理有限公司 前海开源基金管理有限公司 农银汇理基金管理有限公司 景顺长城基金管理有限公司 中融基金管理有限公司 华安基金管理有限公司 大成基金管理有限公司 南方基金管理有限公司 长盛基金管理有限公司 浦银安盛基金管理有限公司 安信基金管理有限责任公司 宝盈基金管理有限公司 交银施罗德基金管理有限公司 华润元大基金管理有限公司 62 国海富兰克林资产管理(上海)有限公司 Franklin Templeton Sealand Asset Management Co.,Ltd. 国海富兰克林基金管理有限公司 63 鑫沅资产管理有限公司 64 北银丰业资产管理有限公司 65 上银瑞金资本管理有限公司 66 申万菱信(上海)资产管理有限公司 67 永赢资产管理有限公司 68 银河资本资产管理有限公司 69 北京国开泰富资产管理有限公司 70 上海富诚海富通资产管理有限公司 71 柏瑞爱建资产管理(上海)有限公司 72 中银资产管理有限公司 73 国寿财富管理有限公司 74 上海兴瀚资产管理有限公司 75 尚腾资本管理有限公司 76 元达信资本管理(北京)有限公司 77 上海北信瑞丰资产管理有限公司 78 光大保德信资产管理有限公司 79 深圳英大资本管理有限公司 XinYuan Asset Management Co., Ltd. Bei Fund Management Co., Ltd. BOSC Rui Jin Asset Management Co., Ltd. SWS MU Asset Management Co.,Ltd. Maxwealth Asset Management Co., Ltd. Galaxy Capital Management Co., Ltd. Beijing CDBS Cathay Asset Management Co.,Ltd. Shanghai HFT Asset Management Co.,Ltd. PineBridge Aijian asset management (Shanghai) Co., Ltd. Bank of China Asset Management Co., Ltd. China Life Wealth Management Co., Ltd. Shanghai Xinghan Asset Management Co., Ltd. Shangteng Capital Management Co., Ltd. Yuandaxin Capital Management (Beijing) Co., Ltd. Shanghai Beixing Ruifeng Asset Management Co., Ltd. Everbright Pramerica Assets Management Co., Ltd. Shenzhen Yingda Capital Management Co., Ltd 鑫元基金管理有限公司 中加基金管理有限公司 上银基金管理有限公司 申万菱信基金管理有限公司 永赢基金管理有限公司 银河基金管理有限公司 国开泰富基金管理有限责任公司 海富通基金管理有限公司 华泰柏瑞基金管理有限公司 中银基金管理有限公司 国寿安保基金管理有限公司 兴银基金管理有限责任公司 上投摩根基金管理有限公司 中信建投基金管理有限公司 北信瑞丰基金管理有限公司 光大保德信基金管理有限公司 英大基金管理有限公司 Sources: CSRC © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
161. 二零一七年中国证券业调查报告 158 Parent company name China Nature Asset Management Co.,Ltd. Golden Egale Fund Management Co., Ltd. Zhonghai Fund Management Co.,Ltd. UBS SDIC Fund Management Co., Ltd. Fullgoal Fund Management Co., Ltd. Greatwall FundManagement Co., Ltd.. Chang Xin Asset Management Co., Ltd. Zhong Ou Asset Management Co., Ltd. Orient Fund Management Co.,Ltd. Donghai Fund Management Co., Ltd. Lion fund management Co., Ltd. Qianhaikaiyuan Fund Management Co.,Ltd. ABC-CA Fund Management Co., Ltd. Investcogreatwall Fund Management Co.,Ltd. SSGA Fund Management Co., Ltd. Hua An Funds Management Co., Ltd. Dacheng Fund Management Co.,Ltd. China Southern Asset Management Ltd. Changsheng Fund Management Co.,Ltd.. AXA SPDB Investment Managers Co., Ltd. Essence Fund Co., Ltd. Bao Ying Fund Management Co., Ltd. Bank of Communications Schroders Fund Management Co., Ltd. Huarunyuanda Fund Management Co., Ltd. Franklin Templeton Sealand Fund Management Co.,Ltd. XinYuan Asset Management Co., Ltd. Zhongjia Fund Management Co., Ltd. BOSC Asset Management Co., Ltd. SWS MU Fund Management Co.,Ltd. Maxwealth Fund Management Co., Ltd. Galaxy Asset Management Co., Ltd. CDBS Cathay Asset Management Co., Ltd HFT Investment Management Co.,Ltd. Huatai-PineBridge Investments Bank of China Investment Management China Life AMP Asset Management Co., Ltd. China International Fund Management Co.,Ltd. Huafu Fund Co., Ltd. China Fund Management Co., Ltd. Beixin Ruifeng Fund Management Co., Ltd. Everbright Pramerica Fund Management Co., Ltd. Yingda Asset Management Co., Ltd Registered Capital (RMB '0000) 注册资本 (人民币万元) 注册地点 Registration Place Approval date 批复时间 (Month/ Year) 10,000 北京 2,000 深圳 2,000 上海 5,000 深圳 20,000 上海 5,000 深圳 10,000 上海 11,700 深圳 10,375 深圳 2,000 上海 5,000 北京 18,000 深圳 2,000 上海 3,000 深圳 30,000 北京 10,000 上海 10,000 深圳 20,000 深圳 10,000 北京 10,000 上海 5,000 深圳 5,000 深圳 5,000 上海 3,000 深圳 Beijing Shenzhen Shanghai Shenzhen Shanghai Shenzhen Shanghai Shenzhen Shenzhen Shanghai Beijing Shenzhen Shanghai Shenzhen Beijing Shanghai Shenzhen Shenzhen Beijing Shanghai Shenzhen Shenzhen Shanghai Shenzhen 06/2013 07/2013 07/2013 07/2013 07/2013 07/2013 08/2013 08/2013 08/2013 08/2013 08/2013 08/2013 08/2013 09/2013 09/2013 09/2013 10/2013 10/2013 10/2013 11/2013 11/2013 11/2013 11/2013 11/2013 12,000 上海 Shanghai 11/2013 5,000 上海 10,000 深圳 13,000 上海 2,000 上海 10,000 上海 5,000 上海 2,000 北京 10,000 上海 10,000 上海 5,000 上海 20,000 上海 2,000 上海 6,000 上海 3,000 北京 3,000 上海 5,000 上海 2,000 深圳 Shanghai Shenzhen Shanghai Shanghai Shanghai Shanghai Beijing Shanghai Shanghai Shanghai Shanghai Shanghai Shanghai Beijing Shanghai Shanghai Shenzhen 01/2014 02/2014 03/2014 03/2014 03/2014 04/2014 04/2014 07/2014 08/2014 09/2014 10/2014 02/2015 02/2015 06/2015 06/2015 08/2015 09/2015 资料来源:证监会网站 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
162. 159 Mainland China Securities Survey 2017 Appendix 11 Secutities companies with Hong Kong subsidiaries 附录11 设立香港子公司的证券公司 Number 内地证券公司 序号 Mainland Securities Companies 香港子公司名称 Hong Kong Subsidiary Name Incorporation date 成立日期 1 国金证券* Sinolink Securities* 国金证券(香港)有限公司 Sinolink securities (HK) Co., Ltd. 20/02/1987 2 申万宏源证券 Shenwan Hongyuan Securities 申万宏源(国际)集团有限公司 Shenwan Hongyuan (International) Holdings Limited 29/10/1992 3 安信证券 Essence Securities 安信国际金融控股有限公司 Essence International Financial Holdings Limited 17/09/1996 4 中国国际金融*# China International Capital Corporation*# 中国国际金融(香港)有限公司 China International Capital Corporation (Hong Kong) Limited 04/04/1997 5 中信证券* CITIC Securities* 中信证券国际有限公司 CITIC Securities International Company Limited 09/04/1998 6 招商证券* 7 山西证券* 8 广发证券* China Merchants Securities* 招商证券国际有限公司 Shanxi Securities* GF Securities* 山证国际金融控股有限公司 广发控股(香港)有限公司 China Merchants Securities International Company Limited 14/07/1999 Shanxi Securities International Financial Holdings Limited 12/04/2006 GF Holdings (Hong Kong) Corporation Limited 14/06/2006 9 国元证券* 10 平安证券 11 华泰证券* Guoyuan Securities* Ping An Securities Huatai Securities* 国元证券(香港)有限公司 中国平安证券(香港)有限公司 华泰金融控股(香港)有限公司 Guoyuan Securities (Hong Kong) Limited 19/07/2006 Ping An of China Securities (Hong Kong) Company Limited 19/07/2006 Huatai Financial Holdings (Hong Kong) Limited 23/11/2006 12 海通证券* Haitong Securities* 海通国际控股有限公司 Haitong International Holdings Limited 24/07/2007 13 国泰君安证券* Guotai Junan Securities* 国泰君安金融控股有限公司 Guotai Junan Financial Holdings Limited` 10/08/2007 14 国都证券 15 国信证券* GuoDu Securities Guosen Securities* 中国国都(香港)金融控股有限公司 国信证券(香港)金融控股有限公司 China Guodu (Hong Kong) Financial Holdings Limited Guosen Securities (HK) Financial Holdings Company Limited 12/11/2007 13/11/2008 16 东方证券* Orient Securities* 东方金融控股(香港)有限公司 Orient Finance Holdings (Hong Kong) Limited 17/02/2010 17 中国中投证券 18 光大证券*# China Investment Securities Everbright Securities*# 中投证券(香港)金融控股有限公司 光大证券金融控股有限公司 China Investment Securities (Hong Kong) Financial Holdings Limited Everbright Securities Financial Holdings Limited 20/08/2010 19/11/2010 19 长江证券* Changjiang Securities* 长江证券控股(香港)有限公司 Changjiang Securities Holdings (HK) Limited 11/01/2011 20 中国银河证券* China Galaxy Securities* 中国银河国际金融控股有限公司 China Galaxy International Financial Holdings Limited 09/02/2011 21 中泰证券(前身 齐鲁 证券) Zhongtai Securities (formerly known as Qilu Securities) 中泰金融国际有限公司 Zhongtai Financial International Limited 22/06/2011 22 兴业证券* Industrial Securities* 兴证(香港)金融控股有限公司 Industrial Securities (HK) Financial Holdings Limited 05/07/2011 23 财通证券 Caitong Securities 财通证券(香港)有限公司 Caitong Securities (Hong Kong) Co., Limited 12/08/2011 24 方正证券* Founder Securities* 方正证券(香港)金融控股有限公司 Founder Securities (Hong Kong) Financial Holdings Limited 21/03/2012 * denotes listed securities company # denotes Sino-foreign securities joint venture Sources: 2016 annual reports of securities companies and websites of securities company HKSAR Companies Registry © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
163. 二零一七年中国证券业调查报告 160 Number 内地证券公司 序号 Mainland Securities Companies 香港子公司名称 Hong Kong Subsidiary Name Incorporation date 成立日期 25 中信建投证券* 26 西南证券* 27 中原证券* 28 东兴证券* 29 东海证券 30 天风证券 31 东吴证券* China Securities* Southwest Securities* Central China Securities* Dongxing Securities* Donghai Securities Tianfeng Securities SooChow Securities* 中信建投(国际)金融控股有限公司 西证国际投资有限公司 中州国际金融控股有限公司 东兴证券(香港)金融控股有限公司 东海国际金融控股有限公司 China Securities (International) Finance Holding Company Limited 12/07/2012 Southwest Securities International Investment Limited 29/11/2013 Central China International Financial Holdings Company Limited 29/10/2014 Dongxing Securities (Hong Kong) Financial Holdings Limited 17/07/2015 Donghai International Financial Holdings Company Limited 11/08/2015 天风国际证券集团有限公司 TF International Securities Group Limited 06/06/2016 东吴证券(香港)金融控股有限公司 SooChow Securities (Hong Kong) Financial Holdings Limited 27/06/2016 * 代表上市证券公司 # 代表中外合资证券公司 资料来源:证券公司2016年年报及公司网页 香港特别行政区政府公司注册处 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
164. 161 Mainland China Securities Survey 2017 07 Contact us 联系我们 © 2017 KPMG Huazhen LLP, a People’s Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International.
165. 二零一七年中国证券业调查报告 162 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体 — 毕马威国际合作组织 “( 毕马威国际”)相关联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。
166. KPMG China operates in 16 cities across China, with around 10,000 partners and staff in Beijing, Beijing Zhongguancun, Chengdu, Chongqing, Foshan, Fuzhou, Guangzhou, Hangzhou, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Tianjin, Xiamen, Hong Kong SAR and Macau SAR. With a single management structure across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located. KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 152 countries and regions, and have 189,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in mainland China. KPMG China was also the first among the Big Four in mainland China to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong office can trace its origins to 1945. This early commitment to the China market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in the Chinese member firm’s appointment by some of China’s most prestigious companies. 毕马威在中国十六个城市设有办事机构, 合伙人及员工约10,000名,分布在北京、 北京中关村、成都、重庆、佛山、福州、广 州、杭州、南京、青岛、上海、沈阳、深圳、天 津、厦门、香港特别行政区和澳门特别行 政区。毕马威以统一的经营方式来管理中 国的业务,以确保我们能够高效和迅速地 调动各方面的资源,为客户提供高质量的 服务。 毕马威是一个由专业服务成员所组成的 全球网络。成员所遍布全球152个国家和 地区,拥有专业人员189,000名,提供审 计、税务和咨询等专业服务。毕马威独立 成员所网络中的成员与瑞士实体 — 毕 马威国际合作组织 “( 毕马威国际”) 相关 联。毕马威各成员所在法律上均属独立及 分设的法人。 1992年,毕马威在中国内地成为首家获 准合资开业的国际会计师事务所。2012 年8月1日,毕马威成为四大会计师事务 所之中,首家从中外合作制转为特殊普通 合伙的事务所。毕马威香港的成立更早在 1945年。率先打入中国市场的先机以及 对质量的不懈追求,使我们积累了丰富的 行业经验,中国多家知名企业长期聘请毕 马威提供专业服务,也反映了毕马威的领 导地位。
167. Simon Gleave 李世民 Partner in charge - ASPAC 亚太区主管合伙人 Financial Services 金融服务 Beijing 北京 +86 (10) 8508 7007 [email protected] Edwina Li 李淑贤 Head of Financial Services- China 中国区金融服务业主管合伙人 Financial Services 金融服务 Shanghai 上海 +86 (21) 2212 3806 [email protected] Thomas Chan 陈少东 Partner 合伙人 Financial Services 金融服务 Beijing 北京 +86 (10) 8508 7014 [email protected] Bonn Liu 廖润邦 Head of Securities and Investment Management, ASPAC 亚太区证券及投资管理主管合伙人 Head of Financial Services, KPMG Hong Kong 香港金融服务业主管合伙人 Financial Services 金融服务 Hong Kong 香港 +852 2826 7241 [email protected] Tony Cheung 张楚东 Partner in charge - China 中国区主管合伙人 Financial Services Advisory 金融服务咨询 Shanghai 上海 +86 (21) 2212 2705 [email protected] Abby Wang 王国蓓 Head of Securities and Investment Management - China 中国区证券基金主管合伙人 Financial Services 金融服务 Shanghai 上海 +86 (21) 2212 2428 [email protected] Wilson Huang 黄小熠 Partner 合伙人 Financial Services 金融服务 Shanghai 上海 +86 (21) 2212 2409 [email protected] Ivan Li 李嘉林 Partner 合伙人 Financial Services 金融服务 Shenzhen 深圳 +86 (755) 2547 1218 [email protected] Larry Choi 蔡正轩 Partner 合伙人 Financial Services 金融服务 Guangzhou 广州 +86 (20) 3813 8883 [email protected] Vivian Chui 徐明慧 Head of Securities and Investment Management - HK 香港证券基金主管合伙人 Financial Services 金融服务 Hong Kong 香港 +852 2978 8128 [email protected] Jeffrey Wong 王镇华 Partner in charge - China 中国区主管合伙人 Advisory 咨询 Shanghai 上海 + 86 (21) 2212 2721 [email protected] Lewis Lu 卢奕 Partner in charge - China 中国区主管合伙人 Tax 税务 Shanghai 上海 +86 (21) 2212 3421 [email protected] James Zheng 郑昊 Partner 合伙人 Financial Risk Management 金融风险管理 Shanghai 上海 +86 (21) 2212 3630 [email protected] Louis Ng 吴福昌 Partner 合伙人 Deal Advisory 交易咨询 Beijing 北京 +86 (10) 8508 7096 [email protected] Tracy Zhang 张豪 Partner 合伙人 Tax 税务 Beijing 北京 +86 (10) 8508 7509 [email protected] Howhow Zhang 张浩川 Director 总监 Financial Services Strategy 金融战略咨询 Hong Kong 香港 +852 2522 6022 [email protected] Rupert Chamberlain 张浩柏 Partner 合伙人 Deal Advisory 交易咨询 Hong Kong 香港 +852 2140 2871 [email protected] Christopher Xing 邢果欣 Partner 合伙人 Tax 税务 Hong Kong 香港 +852 2978 8965 [email protected]
168. 165 Mainland China Securities Survey 2017 Notes 笔记
169. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. © 2017 KPMG Huazhen LLP, a People's Republic of China partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in China. The KPMG name and logo are registered trademarks or trademarks of KPMG International. Publication number: CN-FS17-0002c Publication date: September 2017 所载资料仅供一般参考用,并非针对任何个人或团体的个别情况而提供。虽然本所已致力提供准确和及时的资料,但本所不能保证这些资 料在阁下收取时或日后仍然准确。任何人士不应在没有详细考虑相关的情况及获取适当的专业意见下依据所载资料行事。 © 2017毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所,是与瑞士实体— 毕马威国际合作组织“( 毕马威国际”)相关 联的独立成员所网络中的成员。版权所有,不得转载。中国印刷。 毕马威的名称和标识均属于毕马威国际的商标或注册商标。 CN-FS17-0002c 二零一七年九月印刷
170. Mainland China 中国內地 Beijing 北京 8th Floor, KPMG Tower, Oriental Plaza 1 East Chang An Avenue Beijing 100738, China 中国北京东长安街1号 东方广场毕马威大楼8层 邮政编码 : 100738 Tel 电话 : +86 (10) 8508 5000 Fax 传真 : +86 (10) 8518 5111 Beijing Zhongguancun 北京中关村 Room 603, Flat B, China Electronic Plaza No.3 Danling Street Beijing 100080, China 中国北京丹棱街3号 中国电子大厦B座6层603室 邮政编码 : 100080 Tel 电话 : +86 (10) 5875 2555 Fax 传真 : +86 (10) 5875 2558 Chengdu 成都 17th Floor, Office Tower 1, IFS No. 1, Section 3 Hongxing Road Chengdu, 610021, China 中国成都红星路3段1号 国际金融中心1号办公楼17楼 邮政编码 : 610021 Tel 电话 : +86 (28) 8673 3888 Fax 传真 : +86 (28) 8673 3838 Chongqing 重庆 Unit 1507, 15th Floor, Metropolitan Tower 68 Zourong Road Chongqing 400010, China 中国重庆邹容路68号 大都会商厦15楼1507单元 邮政编码 : 400010 Tel 电话 : +86 (23) 6383 6318 Fax 传真 : +86 (23) 6383 6313 Foshan 佛山 8th Floor, One AIA Financial Center 1 East Denghu Road Foshan 528200, China 中国佛山灯湖东路1号 友邦金融中心一座8层 邮政编码 : 528200 Tel 电话 : +86 (757) 8163 0163 Fax 传真 : +86 (757) 8163 0168 Fuzhou 福州 Unit 1203A, 12th Floor Sino International Plaza,137 Wusi Road Fuzhou 350003, China 中国福州五四路137号 信和广场12楼1203A单元 邮政编码: 350003 Tel 电话 : +86 (591) 8833 1000 Fax 传真 : +86 (591) 8833 1188 Guangzhou 广州 21st Floor, CTF Finance Centre 6 Zhujiang East Road, Zhujiang New Town Guangzhou 510623, China 中国广州市珠江新城珠江东路6号 周大福金融中心21楼 邮政编码 : 510623 Tel 电话 : +86 (20) 3813 8000 Fax 传真 : +86 (20) 3813 7000 Hangzhou 杭州 12th Floor, Building A Ping An Finance Centre, 280 Minxin Road Hangzhou, 310016, China 中国杭州民心路280号 平安金融中心A幢12楼 邮政编码 : 310016 Tel 电话 : +86 (571) 2803 8000 Fax 传真 : +86 (571) 2803 8111 Nanjing 南京 46th Floor, Zhujiang No.1 Plaza 1 Zhujiang Road Nanjing 210008, China 中国南京珠江路1号 珠江1号大厦46楼 邮政编码 : 210008 Tel 电话 : +86 (25) 8691 2888 Fax 传真 : +86 (25) 8691 2828 Qingdao 青岛 4th Floor, Inter Royal Building 15 Donghai West Road Qingdao 266071, China 中国青岛东海西路15号 英德隆大厦4层 邮政编码 : 266071 Tel 电话 : +86 (532) 8907 1688 Fax 传真 : +86 (532) 8907 1689 Shanghai 上海 50th Floor, Plaza 66 1266 Nanjing West Road Shanghai 200040, China 中国上海南京西路1266号 恒隆广场50楼 邮政编码 : 200040 Tel 电话 : +86 (21) 2212 2888 Fax 传真 : +86 (21) 6288 1889 Shenyang 沈阳 19th Floor, Tower A, Fortune Plaza 61 Beizhan Road Shenyang 110013, China 中国沈阳北站路61号 财富中心A座19层 邮政编码 : 110013 Tel 电话 : +86 (24) 3128 3888 Fax 传真 : +86 (24) 3128 3899 Shenzhen 深圳 9th Floor, China Resources Building 5001 Shennan East Road Shenzhen 518001, China 中国深圳深南东路5001号 华润大厦9楼 邮政编码 : 518001 Tel 电话 : +86 (755) 2547 1000 Fax 传真 : +86 (755) 8266 8930 Tianjin 天津 Unit 06, 40th Floor, Office Tower Tianjin World Financial Center 2 Dagu North Road Tianjin 300020, China 中国天津大沽北路2号 天津环球金融中心 津塔写字楼40层06单元 邮政编码 : 300020 Tel 电话 : +86 (22) 2329 6238 Fax 传真 : +86 (22) 2329 6233 Xiamen 厦门 12th Floor, International Plaza 8 Lujiang Road Xiamen 361001, China 中国厦门鹭江道8号 国际银行大厦12楼 邮政编码 : 361001 Tel 电话 : +86 (592) 2150 888 Fax 传真 : +86 (592) 2150 999 Hong Kong SAR and Macau SAR 香港特别行政区和澳门特别行政区 Hong Kong 香港 8th Floor, Prince’s Building 10 Chater Road Central, Hong Kong 香港中环遮打道10号 太子大厦8楼 23rd Floor, Hysan Place 500 Hennessy Road Causeway Bay, Hong Kong 香港铜锣湾轩尼诗道500号 希慎广场23楼 Tel 电话 : +852 2522 6022 Fax 传真 : +852 2845 2588 Macau 澳门 24th Floor, B&C, Bank of China Building Avenida Doutor Mario Soares Macau 澳门苏亚利斯博士大马路 中国银行大厦24楼BC室 Tel 电话 : +853 2878 1092 Fax 传真 : +853 2878 1096 kpmg.com/cn