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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Should l Buy ?
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.
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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.
