China creates $230 bln brokerage powerhouse as consolidation gathers pace
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 06 2024
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Source: Reuters
Merger Announcement: Guotai Junan Securities is set to acquire Haitong Securities in a share swap, creating a leading brokerage in China with approximately $230 billion in assets, pending regulatory and shareholder approval.
Industry Consolidation: The merger reflects Beijing's push for consolidation in the $1.7-trillion brokerage industry, aiming to develop around 10 major institutions over the next five years amidst increasing competition among over 140 players.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
