Individual pension fund sales brokers reduced to 24, Hai Tong Securities removed from the list due to merger and cancellation.

The China Securities Investment Fund Industry Association has disclosed the list of personal pension fund sales institutions as of March 31, 2026. The number of qualified securities firms has decreased from 25 to 24, with Haitong Securities officially exiting. Previously, Haitong Securities was on par with the renamed Guotai Haitong Securities, but at that time both licenses had not yet been integrated. This adjustment does not mean disqualification; it means that Haitong Securities has been deregistered, and its related business and qualifications have been taken over by Guotai Haitong Securities. This is a normal change in license succession and regulatory alignment after the merger and reorganization.