Chinese brokerages are eyeing Southeast Asia as a crucial springboard for overseas expansion, according to the South China Morning Post. Guotai Junan International, for example, acquired a Vietnamese securities firm in 2019. Its Vietnamese operations now rank in the middle among approximately 80 local brokerages, with annual revenue exceeding HK$10 million (approximately US$1.3 million). China Galaxy Securities, through its 2017 partnership with Malaysia's CIMB Group and full acquisition of its securities business in 2023, has seen its international arm, CGS International, establish a significant presence in Malaysia, Singapore, Indonesia, and Thailand. Wang Junhong, Chairman of Guotai Haitong Securities (Vietnam), stated that Vietnam's young population, growing consumer demand, and developing capital market offer immense opportunities.