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the margin trading balance of a-shares continued to decline. last friday, the margin trading balance hit a new low in more than four years.

the overall financing balance of the a-share market continued to decline. at the close of last friday, the financing balance of the a-share market was 1,375.392 billion yuan, a new low in the past seven months. however, overall, the current financing balance of the a-share market is still above the historical average and median levels.

while the overall margin balance has been declining recently, the short-selling balance has also continued to decline. the current short-selling balance level has not only hit a new low since the beginning of this year, but also a new low in more than four years.

the overall financing balance continued to decline and recently hit a new low in the past seven months

recently, the overall financing balance has continued to decline. at the close of last friday, the a-share market's financing balance was 1,375.392 billion yuan, a seven-month low. on september 9, the financing balance rebounded slightly, but was only 1,375.871 billion yuan.

the reporter found that at the beginning of this year, the financing balance of the a-share market was close to 1.6 trillion yuan, but with a relatively rapid decline at the beginning of the year, the financing balance also fell rapidly, and fell to 1375.178 billion yuan on february 8 this year. as of now, it is the lowest financing balance since this year. after that, the financing balance rebounded rapidly, breaking through 1.5 trillion yuan again in march this year, and then hovered around 1.5 trillion yuan for two months. since june this year, the financing balance has reappeared a downward trend until now, it has hit a new low again.

looking at the long term, the a-share market financing balance once experienced dramatic fluctuations, but has generally stabilized in recent years. historical data shows that the a-share market financing balance started from zero in 2010, and exceeded 1 trillion yuan in 2014 four years later. on june 18, 2015, it once reached a historical high of 2.27 trillion yuan, and then fell back in the rapid adjustment of the market.

overall, the current financing balance in the a-share market is still above the historical average and median levels.

however, judging from the distribution of specific industries, the current a-share market financing balance is unevenly distributed. wind data shows that if classified according to the shenwan first-level industry, as of the close of september 9, the financing balance of the electronics, non-bank financial, pharmaceutical and biological, and power equipment industries ranked first, all exceeding 100 billion yuan, while the financing balance of comprehensive, beauty care, textiles and apparel, social services, environmental protection, and light manufacturing industries were all less than 10 billion yuan.

in addition, from the perspective of changes in financing balances during the year, the financing balances of major industry sectors have all declined to varying degrees, among which the reduction in financing balances in power equipment, non-bank financial, pharmaceutical and biological, computer, basic chemical and other industries ranks at the forefront, with a cumulative decline of more than 10 billion yuan. the scale of financing balances in transportation, social services, petroleum and petrochemical, and comprehensive industries has not changed much.

from the perspective of individual stocks, although the overall financing scale of the a-share market has declined this year, the financing balance of many individual stocks has shown a trend of growth against the market trend. wind data shows that as of september 9, the financing balance of more than 1,200 individual stocks has increased this year, of which more than 200 stocks have increased by more than 100 million yuan. the financing balances of wuxi apptec, hikvision, will semiconductor, cnooc, wanfeng aowei, cosco shipping holdings, and foxconn industrial internet have increased by more than 1 billion yuan.

the balance of securities lending is still declining

while the overall margin balance has declined, the short-selling balance has also continued to decline.

wind data shows that as of the close of september 9, the margin balance in the a-share market was 10.553 billion yuan, continuing the downward trend in recent months. it is worth noting that the above margin balance level not only hit a new low this year, but also a new low in more than four years.

data shows that at the close of the first trading day at the beginning of this year, the margin balance in the a-share market was still 70.385 billion yuan, but it has been declining since then, falling below 50 billion yuan in february and further below 20 billion yuan in august. historically, on september 10, 2021, the margin balance in the a-share market once reached a historical peak of 173.858 billion yuan. by comparing several data, it can be found that the margin balance in the a-share market has decreased by about 85.01% since the beginning of this year, and the current margin balance has decreased by about 94% from the historical peak.

the decline in the scale of securities lending and securities lending since the beginning of this year has been significantly affected by policies. on february 6 this year, the spokesperson of the china securities regulatory commission answered reporters' questions about the securities lending business of "two financings" and said that three measures were proposed to further strengthen the supervision of the securities lending business. first, suspend the increase of the scale of securities lending, with the current balance of securities lending as the upper limit, suspend the increase of securities lending scale of securities companies in accordance with the law, and gradually settle the existing amount; second, require securities companies to strengthen the management of customer trading behavior, and strictly prohibit the provision of securities lending to investors who use securities lending to implement intraday revolving transactions (disguised t+0 transactions); third, continue to increase the intensity of supervision and law enforcement. the china securities regulatory commission will crack down on illegal and irregular behaviors such as improper arbitrage through securities lending transactions in accordance with the law to ensure the smooth operation of securities lending business.

as the margin trading balance and short-selling balance are still showing an overall downward trend, the margin trading balance in the a-share market has also declined recently. just last friday, the margin trading balance once again hit a new low in the past four years.