Eleven domestic brokerages have been chosen for a trial run of margin lending and short-selling services, the South China Morning Post reported. The China Securities Regulatory Commission has asked them to prepare quickly, although no timetable has been announced. Top securities firms, including Citic Securities, Haitong Securities, Guotai Junan, Shenyin Wanguo and Everbright Securities are among those in the trial, sources said. Executives with the 11 brokerages met regulatory officials in Beijing to discuss the details. Beijing announced on Sunday that margin lending and short selling would soon be launched. One source explained that a system must be put in place for clients to open special accounts, and educate investors about risks. Sources and analysts said they did not expect the new trading mechanism to debut before next month.
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