调研｜两融新开户数超去年！三大维度解析交易活跃度

Core Viewpoint - The article highlights a significant increase in new margin trading accounts in the A-share market, indicating a growing interest from both new and existing investors, with a notable influx of funds from existing clients [1][4]. Group 1: New Account Openings - As of the end of August, the number of new margin trading accounts has surpassed that of the same period last year, with both new and existing investors contributing funds [1][4]. - By September 18, the number of individual margin trading investors reached 7.67 million, while institutional investors numbered 50,059, with 1.81 million investors holding margin debt [2][11]. - Several brokerage firms reported substantial growth in new margin trading accounts, with Guojin Securities reporting a 3.59% increase in credit account openings to 10.92 million by the end of June [4][5]. Group 2: Margin Trading Activity - The margin trading balance reached 2.4 trillion yuan, accounting for 2.54% of the A-share market's circulating market value as of September 18 [2][12]. - On the same day, the margin trading transaction volume was 373.54 billion yuan, representing 11.8% of the total A-share trading volume [2][12]. - The proportion of margin trading transactions has been steadily increasing, rising from around 8% to approximately 12% of total A-share transactions, although it has not yet reached the peak levels seen in 2015 [12]. Group 3: Investor Profitability - As of the end of August, over half of individual investors in the A-share market have achieved profitability this year, with some brokerage firms reporting that up to 70% of their clients are profitable [9]. - Increased investor engagement is noted, with a 30% rise in inquiries and consultations at brokerage firms since August [9].