券商两融业务迎“开门红” 首月两融新开户同比增逾1.5倍

Group 1 - The core viewpoint of the news is that the margin financing and securities lending (two-in-one) business of brokerages has seen a strong start in 2026, with significant increases in new account openings and total margin balance, driven by market activity and policy adjustments [1][2][7]. Group 2 - In January 2026, the number of new margin financing accounts reached 190,500, representing a month-on-month increase of 29.5% and a year-on-year increase of 157% [2]. - The total margin balance reached a historical high of 2.72 trillion yuan, with a year-on-year growth of 53.1% and a month-on-month increase of 6.9% [2][5]. - The average daily trading volume of stock funds in January was 3.47 trillion yuan, reflecting a year-on-year increase of 155.35% and a month-on-month increase of 58.94% [2]. Group 3 - Regulatory adjustments have been made to manage market volatility, including raising the minimum margin requirement for new financing contracts from 80% to 100%, effective January 19, 2026 [3]. - Analysts expect that the growth momentum of the margin financing market may stabilize following the new regulations, shifting from rapid expansion to high-quality development [4]. Group 4 - The total number of new margin financing accounts for 2025 reached a ten-year high of 1.5421 million, indicating strong market demand and potential for continued growth in 2026 [7]. - As of February 3, 2026, the margin balance was reported at 2.7065 trillion yuan, with the margin trading volume accounting for 9.56% of the total A-share trading volume [6].