The price war for margin trading among brokerages has intensified, with clients holding screenshots to "compare prices" and demanding lower interest rates

"The market is warming up. Recently, a major margin trading client asked us to lower the financing interest rate, which was ultimately set below an annualized 3%," revealed a branch manager of a brokerage firm. In order to retain this long-standing client, the financing rate offered is even lower than mortgage rates and is already approaching the brokerage's funding cost. According to Wind data, as of August 25, the total margin trading balance in the Shanghai and Shenzhen stock markets reached 2.188327 trillion yuan, hitting a new high in ten years. Investor demand for financing is rising, but the price war over margin trading commissions and interest rates is intensifying. Many brokerage professionals have stated that some leading brokerages are continuously setting new industry lows for margin trading rates, with overall interest spreads approaching the breakeven point