2021年证券业调查报告

Mainland ChinaSecuritiesSurvey 2021Financial servicesIntroduction01Market overviewIndustry trendsBusiness dynamicsConclusion063248660504030201The strategic importance of capital market reforms in the first year of the 14th Five-Year PlanData-driven digital transformation:Integrating fintech and business scenariosContinually enhancing compliance and risk managementA new stage of comprehensive opening to the outside worldESG to support sustainable developmentESG3.1 3.23.33.43.5Wealth management:Accelerating transformationProprietary trading:Solid performance,especially in OTC derivativesInvestment banking:Deepened reform of registration-based IPO system with first-tier players outperformingCredit business:Stock-pledge lending declines,while margin financing and securities lending bounce back to their peakAsset management:Pivoting toward publicly offered funds4.1 4.24.34.44.5Contents 目录Appendices7006Appendix 1 Financial highlights Appendix 2 Sector ranking for 2020 Appendix 3 Overview of foreign invested securities company3 Appendix 4 2021 rating of securities companies by the CSRC4 2021Appendix 5 Mainland Futures Companies 5 Appendix 6Mainland Fund Management Companies6 Appendix 7Mainland Subsidiaries of Fund Management Companies7Appendix 8Securities companies who have set up Hong Kong subsidiaries 8Appendix 9Foreign-funded enterprises that offer private fund management business9711851921951992072172252291IntroductionMainland China Securities Survey 20212 2021 KPMG Huazhen LLP and KPMG Advisory(China)Limited,are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in China.The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.During the past extraordinary year,China was able to successfully combat COVID-19 and keep its economy afloat during the pandemic.Meanwhile,the countrys capital market showed strong resilience and vitality during this difficult time.As a key part of the capital market,the securities industry maintained an upward trend in 2020.With the formal implementation of the new Securities Law,the steady launch of the IPO registration system,the further opening up of foreign investment channels,and the acceleration and deepening of digital transformation,major securities companies are actively exploring the transformation of their market positioning,for the purpose of long-term development.According to the audited annual reports of 137 securities companies published by the Securities Association of China(SAC),the securities industry realised operating income of RMB 446.8 billion and net profit of RMB154.9 billion(based on financial statements at the parent company level),representing year-on-year increases of 24 percent and 30 percent,respectively.As of 31 December 2020,the total assets of the above securities companies stood at RMB 8.9 trillion,representing a year-on-year increase of 22 percent.Their net assets amounted to RMB 2.3 trillion,a year-on-year increase of 14 percent.In terms of income composition,income from all segments grew in 2020.The proprietary trading segment generated income amounting to RMB 148.4 billion(including profits or losses arising from changes in fair values and investment income),up 5 percent from the RMB 141.8 billion recorded in 2019.This segment remained the biggest source of income for the securities industry,accounting for 33 percent of the industrys total operating income.Driven by the strong performance of the secondary market,net income from the brokerage segmentthe traditionalsource of income for the industrysurged by 54 percent year-on-year to RMB 129.6 billion.Meanwhile,with the steady promotion to the marketing of capital elements,the rapid implementation of the IPO registration system,and the continuous improvement of the Sci-Tech innovAtion boaRd(STAR market),the investment banking business generated net income ofRMB 67.3 billion,an increase of 39 percent over the previous year.At the same time,efforts to enhance the active management capabilities of the asset management segment accelerated.In 2020,the asset under management(AUM)fell by 21 percent year-on-year to RMB 8.55 trillion as a result of the decrease in channel operation following the promulgation of the New Asset Management Regulations.Nevertheless,the asset management sector stillrecorded RMB 29.4 billion in net income,representing a year-on-year increase of 8 percent.IntroductionMainland China Securities Survey 20213 2021 KPMG Huazhen LLP and KPMG Advisory(China)Limited,are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in China.The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.From