The Research On Motivation And Mode Of M&A And Reorganization Of Chinese Securities Companies Under The New Situation

Since the birth of the first chinese securities company- the Shenzhen Special Economic Zone Securities Company in September 1987, securities companies in China have experienced the rise and fall of capital market about nearly 30 years, and the competitive landscape of securities market has changed constantly. A quite number of larger and stronger securities companies have been built by M&As which were lead by the government. The industry concentration are continuously improving. With the China's deep financial reform and the continuous relaxation of financial supervision, market-oriented M&As in the securities industry market will be the trend of the times, and the motivation and mode of the M&A will make some new changes.In this paper, I will compare the motivation and mode of mergers and acquisitions of securities companies with other's in different stages under the new macro and micro situation. My purpose is to find out the suitable M & A mode for different types of securities companies, in line with the new eracharacteristics. The conclusion on M&A of China's securities companies is to achieve a significant leap.The innovation of this paper is to point out that facing the new regulatory environment and the financial impact of the internet, the motivation and mode of M&A of securities companies in China have make some new changes, mainly from the horizontal M&A within the industry gradually transformed into inter industry vertical and mixed mergers and acquisitions.