Guotai Junan Securities completed the merger with Haitong Securities.

Guotai Junan Securities, a securities firm, completed the merger with Haitong Securities, a investment bank. Financial terms were not disclosed. "The merger creates a stronger company with greater capital strengths, a wider range of services, top-tier expertise and an expanded global network, all of which will help bolster Shanghai's ambition to become a global financial hub," He Qing, Shanghai State-owned Assets Supervision and Administration Commission head.