FINANCE

China Major Brokerage Huatai Set to Get New Chairman, Sources Say

Published: Dec. 12, 2025 1:50 p.m. GMT+8

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Wang Huiqing. Photo: file photo

A leadership transition is underway at Huatai Securities Co. Ltd. (601688.SH), one of China’s largest brokerages, as the firm navigates intensifying competition in the country’s consolidating securities industry.

Wang Huiqing, currently chairman of Jiangsu Govtor Capital Group Co. Ltd., has been appointed as Huatai’s new Communist Party committee chief this week, people familiar with the matter told Caixin.

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Wang Huiqing, chairman of Jiangsu Govtor Capital, has been appointed as Huatai Securities' new Communist Party committee chief and is expected to become chairman by year-end.
The leadership change follows Zhang Wei's retirement and comes amid intense competition in China's securities sector.
Huatai's largest ultimate controller is the Jiangsu state-owned assets regulator, and Jiangsu Govtor holds a 3.95% stake; Zhang Hui is expected to be named co-CEO.

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Who’s Who

Huatai Securities Co. Ltd.: Huatai Securities Co. Ltd. is one of China's largest brokerages, established in 2018 and known for its early adoption of wealth management strategies. It is currently undergoing a leadership transition, with Wang Huiqing appointed as the new Communist Party committee chief, likely to become chairman. Huatai has a dispersed shareholding structure, with its ultimate controller being the Jiangsu provincial state-owned assets regulator. The company expects to appoint Zhang Hui as a co-CEO.

Jiangsu Govtor Capital Group Co. Ltd.: Jiangsu Govtor Capital Group Co. Ltd. (Jiangsu Govtor) is a state-backed venture capital firm. Wang Huiqing, its current chairman, is expected to become the new chairman of Huatai Securities Co. Ltd. Jiangsu Govtor manages over 300 billion yuan ($43 billion) and holds a 3.95% stake, making it the fourth-largest shareholder in Huatai.

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