6 brokerages likely to begin margin trials

China may pick six brokerages to take part in margin trading trials, the China Securities Journal reported today, citing an unidentified person familiar with the situation.

Citic Securities Co, Haitong Securities Co, Guotai Junan Securities Co, GF Securities Co, Guosen Securities Co and China Everbright Securities Co may be the six brokers picked to take part in the first round of trials, the Beijing-based newspaper said. These brokers may begin accepting applications from clients to open accounts in early April, the newspaper reported.

The five other brokerages that failed to be picked for the first round of trails after filing applicatoins may take part in a second round of trials, according to the report. These broker may be allowed to start taking client applications in May, according to the report.

(Source: China Daily)