On December 6, at the 8th General Meeting of the China Securities Association, Chairman Wu Qing of the Securities Regulatory Commission delivered a speech on the high-quality development of the securities industry. Wu Qing pointed out that since this year, the A-share market has generally been active, with a market capitalization of over 100 trillion dollars starting in August, achieving reasonable growth in volume and effective improvement in quality. Wu Qing said that securities institutions are the most important bridge between investment and financing parties in the capital market, and are essential to improving market function and ecology. The total assets of securities companies reached 14.5 trillion yuan, and net assets were about 3.3 trillion yuan. Over the past four years, they have increased by more than 60% and 40%, respectively, and served the listing of more than 1,200 science and technology innovation enterprises. The securities industry structure has been continuously optimized, including the steady promotion of iconic cases such as the Cathay Pacific Haitong merger, and the effect of 1+1>2 has initially been achieved. Small and medium-sized institutions focus on segmented tracks to achieve breakthroughs and shift to differentiated and characteristic development. Foreign-funded institutions have accelerated their domestic business layout, and their opening up to the outside world has further advanced. Eleven wholly foreign-owned or controlled companies are doing business in China and are developing businesses.

On December 6, at the 8th General Meeting of the China Securities Association, Chairman Wu Qing of the Securities Regulatory Commission delivered a speech on the high-quality development of the securities industry. Wu Qing pointed out that since this year, the A-share market has generally been active, with a market capitalization of over 100 trillion dollars starting in August, achieving reasonable growth in volume and effective improvement in quality. Wu Qing said that securities institutions are the most important bridge between investment and financing parties in the capital market, and are essential to improving market function and ecology. The total assets of securities companies reached 14.5 trillion yuan, and net assets were about 3.3 trillion yuan. Over the past four years, they have increased by more than 60% and 40%, respectively, and served the listing of more than 1,200 science and technology innovation enterprises. The securities industry structure has been continuously optimized, including the steady promotion of iconic cases such as the Cathay Pacific Haitong merger, and the effect of 1+1>2 has initially been achieved. Small and medium-sized institutions focus on segmented tracks to achieve breakthroughs and shift to differentiated and characteristic development. Foreign-funded institutions have accelerated their domestic business layout, and their opening up to the outside world has further advanced. Eleven wholly foreign-owned or controlled companies are doing business in China and are developing businesses.