CITIC Securities' research report reveals that China International Capital Corporation (CICC) is set to absorb and merge China Cinda Securities and Dongxing Securities via share exchanges. This move underscores Central Huijin Investment Ltd.’s strategic vision to expedite the creation of globally competitive investment banks. Over the forthcoming five-year period, the securities sector is projected to cultivate 10 leading comprehensive institutions that will spearhead industry advancements. By 2035, the sector anticipates the emergence of 2 to 3 investment banks with the capability to compete on the international stage. Amidst the intensifying competition within the current industry landscape, it is prudent to keep a close eye on the internal and affiliated entities of the Huijin System, state-owned institutions with ongoing integration potential, and securities firms that are persistently driving the development of top-tier investment banks.