Policymakers are also pushing local brokerages to become more competitive in preparation for a build-up by Wall Street giants including Goldman Sachs Group Inc and JPMorgan Chase & Co.
BEIJING: China’s brokerages have a record number of analysts on the rolls after a fourth straight year of hiring, bucking a global trend of investment banks scaling back on research.
Analysts registered with the Securities Association of China climbed to 3,225 as of Dec 26, an increase of 8% from 2018. By comparison, headcount at 12 major global banks shrank 8% to 3,500, on pace for the sharpest annual decrease since research firm Coalition Development started collating the numbers in 2012.
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