经济日报：券商整合是大势所趋

Core Viewpoint - The A-share brokerage sector is experiencing significant consolidation, marked by two securities firms planning to merge through a stock issuance, representing the first major asset restructuring in the non-banking financial sector this year [1] Group 1: Industry Trends - The consolidation of securities companies is a trend driven by the regulatory emphasis on creating internationally competitive investment banks [1] - The capital market reform and the pilot registration system present strategic opportunities for securities firms to return to their investment banking roots and accelerate strong partnerships [1] Group 2: Strategic Directions - Securities firms are expected to align with the broader trend of "growing larger and stronger" while enhancing their ability to serve national strategies and the real economy [1] - There is a dual challenge of building a robust capital market and increasing the international influence and voice of the securities industry [1] - Firms must also focus on compliance and maintaining a baseline to prevent systemic financial risks [1]