China, commonly known as a securities company, refers to the securities operating institutions engaged in brokerage business and self-operated business such as securities brokerage, underwriting and trading agent. The business is relatively simple, mainly securities brokerage business and proprietary trading business, which is also the main source of the company's income, far different from the main source of profits of investment banks in Europe and America-investment business. Securities companies in China are still in the primary stage, similar to pure brokers, and compared with comprehensive investment banks in Europe and America, just like rickshaws are to cars. This is also the reason why China has not fully opened its capital market. This is related to the developed degree of the capital market, and we can only gradually improve our core competitiveness.