Zhitong Financial APP learned that on June 27, affected by the news that the brokerage investment banking business is expected to break out, the A-share securities sector rose. As of press time, China International Capital Corporation (601995.SH) rose more than 6%, while GF Securities Co., LTD. (000776.SZ), Citic Construction Investment (601066.SH), Oriental Wealth (300059.SZ), Bank of China Securities (601696.SH), 601456.SH Securities and other stocks rose.

On June 25, the National Finance and Development Laboratory and the Institute of Finance of the Chinese Academy of Social Sciences jointly held a seminar on comprehensive registration reform. The analysis shows that with the steady progress of the reform of the registration system, the market recognition continues to improve, and the main bodies of the market gradually adapt, which means that the comprehensive promotion of the registration system has a solid foundation. At present, China's capital market is developing steadily and healthily, and the time is ripe to fully implement the registration system. With the steady progress of the reform of the registration system, the market recognition continues to improve, and the main bodies of the market gradually adapt, which means that the comprehensive promotion of the registration system has a solid foundation. In the view of professionals, securities firms as capital intermediaries, the arrival of the comprehensive registration system is undoubtedly the biggest beneficiary. Guotai Junan said that the comprehensive registration system will help to improve the efficiency of issuance, increase the proportion of direct financing, and bring performance increment to the investment banking business of securities firms.

In addition, the individual pension investment public fund system landing securities firms are expected to usher in new opportunities for development. On June 24, the CSRC openly solicited opinions from the public on the interim provisions on the Administration of individual Pension Investment Public offering Securities Investment funds (draft for soliciting opinions) (referred to as the interim provisions), and made specific provisions on fund managers, fund sales institutions and other institutions to carry out activities related to the business of individual pension investment funds. The interim provisions clearly define the relevant requirements for fund managers, fund sales institutions and fund products. Fund managers and fund sales institutions shall establish a long-period assessment mechanism, and the assessment period for individual pension investment fund business, product performance and personnel performance shall not be less than 5 years.

Everbright Securities Research report pointed out: the Securities Regulatory Commission's solicitation of opinions on the rules for individual pension investment public funds is a reflection of the government's increased policy efforts and the continuous enrichment of capital market reform, and is expected to bring new types of long-term funds to the capital market. boost confidence in the capital market. It is expected that with the continuous deepening of the capital market reform system and the continuous improvement of the vitality of the main body of the capital market, securities firms are expected to usher in new opportunities for development. Open source securities pointed out that individual pensions are expected to bring stable incremental funds to the public offering industry, and head channel institutions will benefit more, which is good for product-end head institutions with excellent long-term investment ability.