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Chinese brokerage shares rose further in the afternoon, with Guolian Securities up 27% as of press time.Lolcrash.12%, report 3Lolcrash.75 Hong Kong dollars; China International Capital Corporation rose 10.26 per cent to HK $9.78; China Galaxy rose 8.79 per cent to HK $4.21; and Citic Construction Investment Securities rose 7.2 per cent to HK $6.25.

On the news, the State Council released a report a few days ago, proposing to timely and rationally adjust the proportion of state-owned financial capital in banking, insurance, securities and other industries, and concentrate efforts on building a "national team" of the financial industry. In addition, Guolian Securities announced that it plans to issue shares to acquire a 95.48 per cent stake in Minsheng Securities held by 45 counterparties. This indicates that the reorganization and integration of the two securities companies has entered a substantive stage.

Guotai Junan Securities has previously pointed out that industry consolidation is expected to accelerate, and the introduction of policies is expected to be more beneficial to professional and compliant head brokerages. The "New Nine articles" will strengthen supervision, promote the securities fund industry to return to its origin, and support head institutions to enhance their core competitiveness through mergers and acquisitions and organizational innovation. Industry consolidation is expected to accelerate, which will benefit head brokerages with professional capabilities and compliance.