The China Securities Association has launched a quality evaluation for brokerage firms' investment banking services for the year 2026, with the evaluation results corresponding to differentiated regulatory arrangements.

According to industry sources, the China Securities Association recently launched the evaluation work for the quality of two specific business areas: the investment banking and bond business of securities companies, as well as the financial advisory services for major asset restructuring. The evaluation period for both is from January 1 to December 31, 2025. Regarding the application of the evaluation results, the China Securities Association intends to submit the results to the China Securities Regulatory Commission for reference in the daily regulatory work. To better incentivize and constrain brokerages in conducting bond business, the relevant regulatory authorities will adopt differentiated regulatory arrangements based on the quality evaluation results of brokerages' bond business practices, enhancing classified supervision to improve the precision and effectiveness of regulation.