Xin Lang Cai Jing·2025-12-15 02:47Core Insights - The A-share market's margin trading balance has reached a historical high, prompting securities firms to frequently raise their margin business limits [1][4][6] - As of December 9, the margin trading balance in the A-share market stood at 25,105.72 billion, an increase of over 6,500 billion since the beginning of the year [1] - The number of new margin trading accounts opened in September surged by 288% year-on-year, reaching a monthly record high [1][2] Securities Firms' Actions - Multiple securities firms, including China Merchants Securities and Zheshang Securities, have raised their margin trading limits, with increases as high as 1,000 billion in a single adjustment [1][4] - Longjiang Securities and Dongwu Securities announced adjustments to their margin business limits on December 9, while Dongfang Securities had already revised its management methods for margin trading [4][6] - Huayin Securities has also increased its credit business limits twice within six months, demonstrating a proactive approach among smaller firms [4][5] Market Demand and Regulatory Support - The surge in demand for margin trading is attributed to a combination of policy support, market enthusiasm, and the need for industry transformation [6][7] - The China Securities Regulatory Commission has indicated a willingness to expand capital space and leverage limits for quality institutions, providing essential support for margin trading expansion [6] - Analysts predict that the margin trading scale could exceed 30 trillion, with long-term funds entering the market, which will support blue-chip stocks and the sci-tech sector [8][9] Risk Management and Future Outlook - The balance between expanding margin trading and managing risks is a critical challenge for securities firms, with a focus on maintaining a dynamic balance [6][8] - The average guarantee ratio for margin clients has remained within a safe range, indicating manageable risk levels [7][8] - The securities sector is expected to see a significant increase in net profits in 2025, with a projected 51% year-on-year growth [8][9]