The reporter learned that the current shareholding structure in the securities industry has been summarized in the latest issue of “Transmission”. As of August 2026, 104 brokerage firms were 71 Chinese brokerage firms, accounting for 68.3%, including 23 central enterprises and 48 local holdings; 16 foreign brokerage firms, accounting for 15.4%; 11 private brokerage firms, accounting for 10.5%; and 6 mixed ownership brokerage firms, accounting for 5.7%. The pattern is dominated by state-owned capital and various types of capital participate in an orderly manner. This is a situation with the equity structure of domestic brokerage firms. It is worth noting that there is a clear gradient in the concentration of different types of brokerage firms. The average shareholding of the largest shareholders of foreign capital and private institutions was relatively high, reaching 77.4% and 71.9%, respectively. The former mostly adopted the parent company's wholly-owned or absolute control model, while the latter had higher shareholding and industrial capital holdings; central enterprise holding institutions had an average of 63.9%, retaining market-based operating space while maintaining state control; and local state-owned and mixed ownership institutions were relatively low, at 40.4% and 28.9%, respectively.

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