Research On The Transformation And Development Of Huafu Securities Company

China's economic transformation and upgrading need multi-level capital market,although the concentration of securities industry in China increase fast,but the amount of capital markets continue to expand and business varieties increase,which provide enough space for the small and medium-sized securities to develop.As an important participant of securities market,the healthy development of small and medium-sized securities meet the needs of the development of our country's economy.But few people in the existing related research focus on the local government background of small and medium-sized securities,so this paper focus on the transformation development way of the regional small and medium-sized securities,this is a practice exploration of the multi-level capital market construction,has strong practical significance.This paper is divided into six parts.The first part introduces the background of writing paper,study background and significance,literature review and related theory,state research main content and logical framework.The second part analyzes the brokerage development background.The third part analyzes the China's securities industry development situation from the securities industry development history,business products,and brokerage.The fourth part makes a definition and summarizes the characteristics of regional small and medium-sized securities in China and restricting factors,through the comparison and case analysis.The fifth part put forward countermeasures of transformation development for regional small and medium-sized securities.The sixth part is conclusion.Compared with large brokerage,regional small and medium-sized securities presents obvious advantages in regional market,capital is on a smaller scale,management risk is bigger,profit structure resemblance single,management way is backward,lacking of high-quality talents and core competence.Through the case analysis,pointed out that "local government" brand is not the main restricting factor of its development,development strategy is not clear,The company properties and organization structure transformation is not in time affect the business,the root cause of the enterprise development.The company properties and organization structure transformation is not in time affect the business.For the regional small and medium-sized securities,the basic way is formulating development strategy which base on the enterprise actual clear regional characteristic,shifting profit pattern promptly,choosing main business properly,and,streamlining business line through the organization structure adjustment.