---
title: "China's Fund Advisory Pilot Expands as Brokers Prepare License Applications"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292967402.md"
description: "China's fund advisory pilot is expanding, with brokers like Western Securities preparing license applications before late August. The sector now includes 60 institutions, managing 450 billion yuan and serving nearly 10 million clients as of early 2026. This growth reflects a shift in the industry's profit model from price spreads to time value."
datetime: "2026-07-17T01:19:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292967402.md)
  - [en](https://longbridge.com/en/news/292967402.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292967402.md)
generator: "portal-rs"
---

# China's Fund Advisory Pilot Expands as Brokers Prepare License Applications

China's fund advisory pilot is expanding steadily. According to 36Kr, brokers including Western Securities, Changjiang Securities, Northeast Securities and Huafu Securities have received related notices and are preparing license applications, with filings expected to be submitted in a 集中 manner before the end of August. The pilot began in 2019 and now has 60 participating institutions. As of early 2026, the sector managed about 450 billion yuan and had served nearly 10 million clients. Industry participants said the expansion reflects a generational shift in the profit model, from earning on price spreads to earning on time value.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**