Is the sales department of state-owned securities firms still state-owned?

Securities companies include state-owned enterprises and private enterprises.

1. Securities companies are both state-owned and non-state-owned, such as Ping An Securities and Kyushu Securities, all of which are non-state-owned, such as CITIC Securities and Guoyuan Securities.

2. Most of China's securities companies are state-owned enterprises, which are controlled by state-owned central huijin, Ministry of Finance, local financial departments and state-owned enterprise groups, and a few securities companies are private, such as Kyushu Securities. Chinese mainland's securities companies were originally state-owned and were originally established by local financial departments. Later, some securities companies carried out shareholding system reform, but most of them still maintained state-owned holding.