On September 28th, 2005, China Yin Jian Investment Securities Co., Ltd., which was established on the basis of the reorganization of the former Southern Securities, was announced to be established in Shenzhen, and Southern Securities officially withdrew from the historical stage.
For the sake of financial stability, the state will not allow securities companies to close down, but only merge or reorganize. Usually, the so-called bankruptcy of securities companies is mostly our subjective judgment, but it is not like this. We should treat the development of China stock market rationally.