China’s Largest Brokerages Merge: Guotai Junan and Haitong Set to Dominate $1.7 Trillion Sector
Guotai Junan Securities and Haitong Securities, two major state-backed Chinese brokerages, have announced a merger that will reshape the $1.7 trillion brokerage industry. The deal, which involves a share swap, will create a leading firm with assets totaling 1.6 trillion yuan ($226 billion), surpassing Citic Securities to become