Which echelon does western securities belong to?

The second echelon. In China's brokerage industry, the first echelon mainly includes CITIC Securities, Haitong Securities, Huatai Securities and China Merchants Securities, which have a large scale, a large market share and strong competitiveness; The second echelon consists of GF Securities, Everbright Securities, Shenwan Hongyuan, Guo Jin Securities and Western Securities, and its influence and competitiveness in the market are slightly lower than that of the first echelon, but it also has a certain market share and business scale.