Securities companies are also called brokers in China, and generally set up a department called research institute. Its function is to research and analyze listed securities and give relevant investment suggestions independently. At present, there are about 30 active brokerage research institutes in China. People who work in the securities research institute are called securities analysts, who are mainly responsible for researching, analyzing and pricing all kinds of securities and giving specific investment suggestions. Among them, well-known large-scale brokerage research institutes such as CITIC Securities, Haitong Securities, Guotai Junan Securities, China Merchants Securities and other large-scale brokers all have research teams of more than 100 people. Small and medium-sized brokerage research institutes generally have more than 50 people.