China creates its largest brokerage to take on Wall Street
China is set to merge Guotai Junan Securities with Haitong Securities, forming a new entity worth $230 billion. This strategic move aims to consolidate the financial sector and enhance global competitiveness. The merger awaits necessary approvals from boards, shareholders, and regulatory authorities. Brokerages have also become targets of Xi’s signature “common prosperity” campaign.
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China is set to merge Guotai Junan Securities with Haitong Securities, forming a new entity worth $230 billion. This strategic move aims to consolidate the financial sector and enhance global competitiveness. The merger awaits necessary approvals from boards, shareholders, and regulatory authorities. Brokerages have also become targets of Xi’s signature “common prosperity” campaign. 
