China Securities Regulator Approves Great Wall, Dongguan Securities for Beijing Stock Exchange Market Making

The steady expansion of BSE market-making to 30 firms signals a deliberate regulatory push to deepen liquidity on China's smallest exchange, where thin order books have long been a structural weakness. The pace — seven approvals this year alone — suggests Beijing is prioritizing the BSE's role as a funding channel for smaller, innovation-focused companies, and the brokers gaining licenses are positioning for a market that policy is actively trying to grow. Whether the added quoting capacity translates into meaningfully tighter spreads and sustained volume, rather than just more registered participants, is the open question worth watching.