In 2026, the quality rating for investment banks will be launched, with 65 securities firms and 622 IPO and follow-on financing projects participating in the evaluation.

Sina Finance News on March 31st, 2026, the quality evaluation of securities and investment banking business has been initiated. It is reported that the regulatory authorities are currently confirming the projects for the quality evaluation of the first issuance and refinancing business in 2025. According to statistics, this year 65 securities firms have participated in the evaluation, involving 622 first issuance and refinancing projects. 16 securities firms including CITIC Securities, Guotai Junan, Huatai Securities, China CITIC Construction Investment, Zhongjin Company, Guojin Securities, Guoxin Securities, China Merchants Securities, Dongfang Securities, Guolian Minsheng, GF Securities, Guotou Securities, Shenwan Hongyuan, Changjiang Securities, Zheshang Securities, and Galaxy Securities have more than 10 projects participating, while 17 securities firms have only 1 project participating. From the significant differentiation in investment banking business, the "Matthew effect" in securities firm competition is apparent.