It means that securities firms issue asset management products to banks to absorb bank funds, then use them to buy bank bills, help banks complete trust loans and transfer related assets to off-balance sheets. In this process, brokers provide access to banks and charge a certain fee for crossing the bridge.

The main form of channel business used to be bank-trust cooperation. Because of the suspension of CBRC, banks turned to bank-securities cooperation with securities companies.

Extended information:

The channel business of securities companies mainly refers to the channels that securities companies can provide investors with transactions, issuance and listing, etc. and connect with the stock exchange. This is a unique business of securities companies. Also known as brokerage business, traditional IPO business, etc. At present, these businesses are in full competition, and the profit rate is getting lower and lower.

non-channel services mainly refer to services other than traditional channel services. It mainly includes the agency business of providing funds and wealth management products in brokerage business, financial consultancy business provided by investment banks, asset management business, establishment and issuance of wealth management products, capital intermediary business such as margin financing and securities lending, stock pledged repurchase and bond quoted repurchase.

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