Today, after more than 20 years of development, the investment industry in China has made indelible contributions to the development of the capital market, from small to large, from disorderly competition to gradual standardization. But overall, compared with the more developed capitalist countries, China's investment industry is still in the primary stage. Although the Securities Law has been promulgated, it is relatively general and does not involve many specific investment banks. Most institutions have funds below 654.38 billion yuan, with an average of only about 30 million yuan; Some foreign investment banks, such as Morgan Stanley's $3 175 billion and Merrill Lynch's $299.8 billion, are 7.6 times and 7. 1 times the total assets of China 130 securities companies respectively. In addition, the obvious shortage of professionals who are proficient in investment banking, and the relatively backward business philosophy and management system also restrict the rapid development of China's investment industry.
With the rapid development and deepening of China's economic system reform, the demand for investment and financing in social and economic life will be increasingly strong, and large and medium-sized state-owned enterprises will rely more and more on the role of the capital market in changing their operating mechanisms and private enterprises seeking future development, all of which put forward new and higher expectations for the long-term development of China's investment banking industry.