Several Chinese securities brokerages lower commission fees after regulator unveiled measures to bolster stock market

 

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Eleven Chinese brokerages have announced the decision to lower their commission fees after the securities regulators unveiled a set of measures to bolster the country’s sagging stock market and stock exchanges cut fees they charge brokers for handling securities transactions.

Citic Securities, the country’s largest brokerage, will cut its commission for trading on the Shanghai and Shenzhen bourse and depository shares by 0.00146 percentage point and that for trading in common and preferred stocks on the Beijing exchange by 0.0125 point. 

Other brokerages have also released similar announcement to cut commission by the same amount. 

The China Securities Regulatory Commission (CSRC) earlier this month unveiled measures to bolster the stock market on Aug. 18, including lower trading costs.

The stock exchanges in Shanghai and Shenzhen then cut the processing fees on transactions of Class-A and Class-B shares to 0.00341% from 0.00487%, and the Beijing bourse cut it to 0.0125% from 0.025%.

It was the first time in eight years that stock exchanges in mainland China cut their handling fees.