On the evening of August 18, CICC, Dongxing Securities and Cinda Securities simultaneously disclosed an announcement to respond to the review inquiry letter on the major asset restructuring application, marking that the “three-in-one” restructuring has reached a critical point. Meanwhile, mergers and restructuring of regional brokerage firms, such as Orient Securities's acquisition of Shanghai Securities and Dongwu Securities's acquisition of Donghai Securities, are progressing in an orderly manner. Industry insiders said that mergers and restructuring can quickly increase the size and share of brokerage investment banks, but core soft powers such as industry insight, full-cycle services, and global pricing rights still require long-term accumulation.

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