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Strategies & Market Trends : True face of China -- A Modern Kaleidoscope
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To: joearenagates who wrote (2882)2/26/2008 5:49:12 PM
From: RealMuLan  Read Replies (2) of 12464
 
Have NOT heard of it. My guess is impossible! The Chinese gov. already thinks the stock market gone crazy, so NO way they will add oil on fire. There will NO similar margin account like the ones in the US, where you can automatically borrow money from brokerage without extra paper work. Basically, the brokerage in China have NO right to lend loans.

That said, some Chinese banks (has NOTHING to do with Brokers) have been lending money to borrowers with phsical stock certificates as collateral ever since year 2000. but due to the complicated paper work, they are not popular. And these loans are termed, I read from middle of 2007, many banks already stopped renew the loan. And many undue loans also got called back. I guess must have something to do the crazy stock market, and afraid of the crash will add bad debt to the banks. After all those stock certificates are nothing but a piece of waste paper.

Here is Chinese article if you can read Chinese.
news.sina.com.cn
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