Amidst the dynamic economic conditions in China, the sudden merger decision of two state-backed financial giants raises questions about the future of the brokerage services market. At the forefront is the planned merger between China International Capital Corp (CICC) $601995.SS and its subsidiary, China Galaxy Securities $601881.SS. This significant event promises to bring substantial changes to the structure of the securities industry, creating the third-largest brokerage firm in the country with assets totaling $193 billion.