China's Securities Companies Profit Model Transformation Analysis

In the more than20years development of China’s securities market, securities companies have been prosperity and strength as a main body in the market. However, throughout those years development. Securities industry earnings volatility change present obvious positive correlation with stock market situation, which explains our country securities company profit model exists questions, the status of the universal existence "dependent on the weather", the lack of its own core competitive advantage. The emergence problems not only affect the healthy development of securities market in our country, but also reflects the deficiencies of China’s financial industry. Therefore, looking for a securities company profit model transformation path has been a key concern in recent years in the financial world. Based on the theory of value chain, this paper is to study how to change the profit pattern of securities companies, and put forward practical and feasible method of transition for securities firms profit model.First, this paper based on the theory of value chain theory and the research literature at home and abroad, combined with the background of economic mode transformation in China, put forward the necessity of the securities company’s profit model transformation; Second, through the large demand for the securities firm innovation under the background of information technology point of view, it analyses the realistic significance and the current demand of securities companies profit model transformation. Finally, on the basis of value chain related theories, the comprehensive meticulously analyze securities of the company’s internal and external value chain, what are the flaws that need to be perfect, in the end it proposed the securities company profit model transformation path.The purpose of this paper is to study the securities company profit model, under the new form, the development of China’s securities companies not only accord to their own situation, but also draw lessons from western developed countries and use their successful experience, in order to build innovative profit model is more suitable for the current market characteristics, changing traditional securities industry "dependent on the weather" business model, so as to make our country’s securities companies on the new road of sustainable development. The more competitiveness they make by the securities firm themselves, the more stable healthy development they are, this will also be able to make our country’s financial system constantly improve and promote the sustainable development of the securities market in our country.