CLS(SZ:002945) 券商中国·2025-10-18 01:44Core Viewpoint - The article highlights the significant growth in the margin trading and securities lending market in China, with a notable increase in new account openings and financing balances, indicating strong investor demand and the need for brokers to balance business expansion with risk management [1][2][3]. Group 1: New Account Openings - In September, the market saw the opening of 205,400 new margin trading accounts, marking a record high for the year and a 12.24% increase from August's 183,000 accounts, as well as a substantial 288% year-on-year growth from 52,900 accounts in September of the previous year [1][3]. - As of the end of September, the total number of margin trading accounts reached 15.29 million [1][3]. Group 2: Financing Balances - The financing balance in the A-share market surged from 1.85 trillion yuan at the end of Q2 to 2.39 trillion yuan by the end of Q3, reflecting a quarterly growth of 29.19% [1][5]. - As of October 16, the total margin trading balance was approximately 2.45 trillion yuan [5]. Group 3: Broker Responses - In response to the booming market, several brokers have raised their credit business limits, such as Zheshang Securities increasing its financing business limit from 40 billion yuan to 50 billion yuan [6]. - Brokers are also adjusting their risk management strategies, with Huayin Securities raising the financing margin ratio to 100% for certain securities to manage the rapid growth in financing balances [7]. - Despite these adjustments, many brokers still maintain a financing margin ratio of 80% across the industry [7].