Transaction of China's margin trading and short selling totaled 624 million yuan ($91.40 million) as of May 12, the Shanghai Securities News reported Friday.

The figure was about 2 percent of the 34 billion yuan the six selected brokers have set aside for this business.

As for the breakdown, margin trading reached 615 million yuan, with short selling coming to 8.36 million yuan.

China began pilot practices of margin trading and short selling on the Shanghai and Shenzhen exchanges on March 31, with six securities brokers selected for the program.

Margin trading allows an investor to purchase stocks with borrowed money from a broker, while in short selling, an investor borrows a security from a broker in order to sell it.

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