Institutional Investor’s tenth annual All-China Research Team ranks the region’s top research providers, as determined by mainland and international investors. This year, more than 4,800 investment professionals at nearly 1,000 institutions showed a clear preference for domestic firms, resulting in a major shakeup of last year’s leaderboard.

Huatai Securities — which ranked sixth last year — leapt to the No. 1 spot in the 2019 ranking of the best research teams, edging 2018 incumbent CICC down to second place. GF Securities improved on its eleventh place ranking to finish third this year, while Guotai Junan Securities slipped one spot to fourth. The highest-ranking international firm was UBS, which placed fifth.

Voters rated the top firms across 25 industry and economic sectors to form the team ranking. Additionally, they separately ranked individual analysts in each sector to form an analyst-based leaderboard, which CICC topped for the eighth year in a row. Votes in both categories were weighted by each respondent’s Chinese equity assets under management.

In order to highlight the difference in perspectives between domestic and international investors, respondents were divided by location to produce additional rankings from each point of view. Each of these leaderboards, as well as an article on the results and the full methodology, can be viewed using the navigation bar at right.