Brokerage Consolidation Continues in Mainland China
China’s quest to create world-class brokerages continues with yet another major merger involving Beijing-based investment bank CICC.
China International Capital Corporation (CICC) plans to acquire Dongxing Securities and Cinda Securities via a proposed share-swap merger, according to a statement. No details of the deal were disclosed.
When combined, the three entities had over 1 trillion Chinese yuan ($140 billion) in total assets at the end of September 2025, ranking it as the country’s fourth largest broker behind Citic Securities, Guotai Haitong Securities and Huatai Securities.
World-Class Banks by 2035
According to CICC, the merger aims to accelerate the creation of world-class firms to serve China’s national strategy. Beijing had previously announced the goal of having two to three banks that can compete globally by 2035.
CICC’s deal marks the second major financial merger following Guotai Junan Securities’ acquisition of Haitong Securities in 2024 to form China’s largest brokerage.
