This Upstart Chinese Brokerage Is Now Bigger Than Credit Suisse
- East Money becomes world’s fifth largest amid stock surge
- Broker offers social networking chat, stock and fund apps
Photographer: Qilai Shen/Bloomberg
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East Money Information Co., founded by a 49-year-old former stock commentator, is one of the big winners in China’s wildest stock frenzy in half a decade.
Shares in the online broker and market data provider have rocketed 78% this year, giving it a market value of more than 200 billion yuan ($29 billion). That puts it among the world’s biggest traded institutional brokers, making it more valuable than even Credit Suisse Group AG, according to data compiled by Bloomberg.