Chinese brokerages will be allowed to manage assets for individual clients for the first time, Bloomberg reported. The China Securities Regulatory Commission (CSRC) announced the move by publishing a set of draft rules on its website yesterday, and has requested comments from the public. Under the draft rules, brokerages can manage cash, bonds, asset-backed securities, stocks, mutual funds and financial derivatives for individual clients. They cannot promise guaranteed returns to clients. Brokerages and their clients must also sign a contract that specifies the management fee, commission on the profit and payment method. Brokerages currently earn revenue from commissions from trading or selling stocks for clients and proprietary trading. Trading volumes have dropped recently, hitting brokerages’ earnings.