HONG KONG -- Two of China's top state-backed brokerages, Guotai Junan Securities and Haitong Securities, have announced a plan to merge into what would become the country's largest player, while industry experts anticipate more consolidation.
Finance
China brokerage merger to create new top dog as market flounders
Industry players question whether Guotai-Haitong deal will create Wall Street rival
Guotai Junan Securities and Haitong Securities, both backed by Shanghai government entities, plan to combine their operations. (Business Wire via AP)
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