Do securities companies have state-owned enterprises?

Securities companies have both state-owned enterprises and non-state-owned enterprises.

There are both state-owned enterprises and non-state-owned enterprises in securities companies. Securities companies established by state-owned enterprises include CITIC Securities and Guoyuan Securities, which are controlled by state-owned capital or the government. Non-state-owned securities companies include Ping An Securities and Kyushu Securities controlled by private capital or other non-state-owned entities.