Zou Yingguang, general manager of CITIC Securities, speaks at the company's 2025 Investor Open Day in Beijing, Dec. 12, 2024. [Photo courtesy of CITIC Securities]

China's economy has entered a new phase of high-quality development, creating significant opportunities for the securities industry, Zou Yingguang, general manager of CITIC Securities, China's largest brokerage, said Friday.

Zou made the remarks at the company's 2025 Investor Open Day in Beijing, held as China nears the end of its 14th Five-Year Plan (2021-2025) and begins preparations for the next planning period. 

"China's development has entered a critical stage where strategic opportunities and risks coexist," Zou said, noting that the fourth plenary session of the 20th Communist Party of China Central Committee outlined the blueprint for the country's development over the next five years.

From a domestic perspective, Zou said the shift toward high-quality growth is reshaping the operating environment for securities firms in several ways. One key driver is the deeper integration of technology and industry, with faster progress in fields such as artificial intelligence, biomedicine, quantum technology and green energy, making technological self-reliance an increasingly important policy focus.

He also pointed to shifts in household wealth allocation. Demographic changes and a lower interest rate environment are encouraging households to shift from savings toward investment, expanding demand for asset and wealth management services.

At the same time, China's industrial and supply chains are becoming increasingly interconnected with global markets, as more companies expand overseas, leading to sustained demand for cross-border financing, mergers and acquisitions, and other specialized financial services, Zou said.

Looking ahead, Zou said China's capital market is expected to place greater emphasis on its functional role, with securities firms focusing more on supporting the real economy and meeting residents' wealth management needs.

Firms with solid fundamentals are likely to benefit from a more supportive environment, he said. Over time, this will result in a market structure in which large, full-service institutions operate alongside smaller, more specialized players.

"In response to these changes, CITIC Securities is working on its development plan for the next five years," Zou said, adding that the firm aims to advance its long-term strategy with a consistent approach.

The company plans to strengthen its role in direct financing, capital market services and professional wealth management, while enhancing coordination across investment banking, investment and research, he said. It will also expand services in areas such as green finance, inclusive finance, pension-related products and digital finance.

Zou said the firm will further improve services for investors and households by offering a broader range of long-term investment products and strengthening asset allocation and wealth management capabilities. At the event, CITIC Securities launched its "Xin 100" initiative, a systematic service framework designed to help households preserve and grow wealth.

CITIC Securities will also deepen its support for the real economy and the development of new quality productive forces by optimizing its business mix, expanding equity and bond financing, and developing products in areas such as derivatives and asset securitization while maintaining effective risk control.

Regarding global operations, Zou said the firm will continue to advance its international strategy by improving coordination and infrastructure, focusing on Chinese companies expanding abroad and international investors entering China.

The company aims to build an investment bank with strong global capabilities, one that understands China and connects effectively with international markets, he said.