市场信心在回升，投资热情在涌动，抢抓机遇的同时，作为资本市场看门人和服务商，券商更要稳 守底线，防范风险，在发展与规范之间找到平衡点，推动市场行稳致远。 比起拼价格，更应拼价值。为抢占市场份额，当前个别券商将两融利率压至4%以下，这种"价格 战"苗头值得警惕。比起拼价格，券商更应在服务的深度与广度上下功夫，通过科技赋能创新产品、细 分客户精准服务等破除低效内卷，留下投资者，变短钱为长钱。 在两融余额连创历史新高之际，券商争相提额揽客。近日，某券商公告，将融资融券业务规模上限 由1500亿元增至2500亿元。年内已有多家券商上调两融业务规模上限，有券商甚至在半年内两度提额。 券商竞相提额的背后，是资本市场活跃度的持续攀升。今年以来，A股市场回稳向好，两融业务随 之升温，10月29日，两融余额突破2.5万亿元，创下历史新高。与此同时，两融新开账户数在9月份达到 20.54万户，同比增长288%。券商适时调整业务规模，是顺应市场需求之举。 券商积极提额揽客，折射出政策层面对资本市场的大力支持，传递出信心修复的信号。当前，稳股 市已成为提振信心、稳定预期的关键抓手。今年以来，一揽子稳市政策陆续落地，以中央汇金为代表 ...

Core Viewpoint - The rapid increase in margin financing business reflects the booming A-share market and the growing demand for margin trading, prompting securities firms to adjust their business scales to seize opportunities [2][4]. Group 1: Business Expansion - Huayin Securities announced an increase in its credit business total scale limit from 6.2 billion to 8 billion yuan, a 29% increase, in response to the surging demand for margin trading [2][4]. - The total margin financing balance in the A-share market reached a historical high of 2.3197 trillion yuan as of September 9, 2023, indicating a strong market participation [2][7]. - The increase in credit business scale is a reflection of the optimistic outlook for margin trading, with a significant rise in investor financing needs [4][6]. Group 2: Risk Control Measures - Huayin Securities emphasizes a strategy of "steady growth and risk prevention" in its credit business, focusing on optimizing customer service and business scenarios while managing risks [6]. - The company maintains a collateral ratio of 267.01% for its margin financing business, indicating a controlled overall business risk [6]. - Other securities firms, such as Guojin Securities, have raised margin requirements to mitigate risks, enhancing their ability to withstand potential defaults by investors [6]. Group 3: Market Trends - The total trading volume in the A-share market for the first half of 2023 reached 162.66 trillion yuan, a year-on-year increase of 61.14%, with an average daily trading volume of nearly 1.39 trillion yuan [7]. - The margin financing market has expanded rapidly, with a year-on-year growth of 24.95%, reaching a balance of 1.8505 trillion yuan by the end of the first half of 2023 [7]. - Certain sectors, including electronics, power equipment, and pharmaceuticals, have attracted significant financing, with net buying amounts exceeding 30 billion yuan this year [7].