Stock exchanges lower fees
CHINA’S two major stock exchanges will lower transaction fees by around 30 percent after a continued slump in the country’s stock market.
Fees have been cut to 0.0487 permillage from 0.0696 permillage for A-share trading, with 20 percent of the charges transferred to an investor protection fund, according to a joint statement of Shanghai and Shenzhen bourses. In addition, transfer fees will be cut to 0.02 permillage from 0.3 permillage and 0.0255 permillage for Shanghai and Shenzhen exchanges respectively.
The cuts will take effect on August 1.
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