Since this year, the scale of bonds issued by brokerage firms has increased dramatically. According to Wind data, as of the press release on December 11, 75 brokerage firms have issued a total of 954 bonds since 2025, setting an issuance record with a total issuance scale of about 1.77 trillion yuan. At the same time, the number and scale of bonds issued increased by more than 40% over the same period last year. Among them, the four leading brokerage firms issued more than 100 billion yuan of bonds during the year, accounting for a large share of the total amount of bonds issued by the industry. According to experts, the market environment, financing costs, and policy guidance have jointly driven the scale of bonds issued by brokerage firms to a new high.

Since this year, the scale of bonds issued by brokerage firms has increased dramatically. According to Wind data, as of the press release on December 11, 75 brokerage firms have issued a total of 954 bonds since 2025, setting an issuance record with a total issuance scale of about 1.77 trillion yuan. At the same time, the number and scale of bonds issued increased by more than 40% over the same period last year. Among them, the four leading brokerage firms issued more than 100 billion yuan of bonds during the year, accounting for a large share of the total amount of bonds issued by the industry. According to experts, the market environment, financing costs, and policy guidance have jointly driven the scale of bonds issued by brokerage firms to a new high.