Under the new situation，the Party Central Committee has established a high starting point and high standard positioning for the capital market，opening up a broader space for the development of the securities industry. 2019 is the first year of the supply-side reform of my country’s capital market. In this year，with the launch of a series of policies such as the opening of the Science and Technology Innovation Board，the reform of the registration system，and the implementation of new regulations on mergers and acquisitions and reorganizations，the scope of financing services for the real economy by the capital market has expanded. The importance of direct financing and securities companies has also been elevated to unprecedented heights. The basic system of the capital market has been continuously improved，and higher requirements have been put forward for securities companies’ research pricing capabilities，value discovery capabilities，sales capabilities，and risk management capabilities. This chapter ranks the competitiveness of securities companies for the whole year of 2019，and evaluates the core competitiveness and comprehensive competitiveness of securities companies’ operating capabilities，risk control capabilities，and innovation capabilities. The calculation results show that the securities industry’s operating capabilities have continued to improve，the requirements for risk control capabilities have been further improved，and innovation capabilities have received more attention. On the whole，the securities industry presents a strong structure，and the Matthew effect is more obvious；small and medium-sized securities companies have become more competitive，and some small and medium-sized securities companies have adopted differentiated competition strategies to seek breakthroughs；market-oriented mergers and acquisitions in the securities industry have accelerated，and mergers and acquisitions have become An effective way to improve comprehensive competitiveness.