Competing for the new blue ocean of cross-border business, securities firms are advancing their internationalization layout.

Recently, there have been frequent developments in the cross-border business layout of the securities industry. Zhongtai Securities provided a guarantee of 350 million Hong Kong dollars to its overseas wholly-owned subsidiary Zhongtai International to promote the development of overseas business. Following Guotai Junan International, Hua Fu Securities and CMB International have successively announced that they have obtained a virtual asset trading service license in Hong Kong. In recent years, international business has gradually become an important part of securities firms' performance improvement. Industry insiders believe that with the acceleration of high-level opening of the capital market, securities firms will seize the opportunity to accelerate the expansion of cross-border business. Leading securities firms will focus on the breadth and depth of their business, while small and medium-sized securities firms will seek differentiated development.