两融客户加速入场，新增开户入金更踊跃

Core Viewpoint - The A-share market is experiencing significant activity in margin trading, with both trading volume and margin balance reaching unprecedented levels, indicating a strong market sentiment and investor confidence [2][3][5]. Group 1: Margin Trading Activity - The A-share margin trading balance surpassed 2 trillion yuan for the first time in ten years, reaching 2.31 trillion yuan by August 14, 2025, with a net increase of 12.9 billion yuan from the previous trading day [3][4]. - The number of investors participating in margin trading has been steadily increasing, with 547,721 clients recorded by August 14, 2025, marking an increase of over 80,000 from the previous week [4][5]. Group 2: Brokerages' Competitive Landscape - Brokerages are actively expanding their margin trading services, with many offering competitive interest rates to attract new clients. Some firms are offering rates as low as 3.99% for high-net-worth clients [6][8][10]. - There is a noticeable differentiation in margin trading rates among brokerages, with larger firms generally offering lower rates due to their better capital positions, while smaller firms may charge rates exceeding 7% [6][11]. Group 3: Market Sentiment and Policy Impact - The resurgence of margin trading activity is attributed to improved policy expectations and a rebound in market risk appetite, driven by regulatory signals aimed at stabilizing the capital market [5][6]. - The flow of financing funds has predominantly favored sectors such as information technology, industrials, and materials, reflecting investor confidence in the optimization of industrial structures and high-quality economic development [5].