Recently, the Shanghai and Shenzhen stock exchanges announced that they will reduce or waive certain trading fees and services totaling around 920 million yuan (approximately 130 million dollars) by 2024.
The Shanghai Stock Exchange announced that it will waive listing fees for companies listed on the exchange and will continue to exempt certain bond transaction fees in 2024, among other measures.
The stock exchange, based in the municipality of Shanghai, said that initial estimates indicate that this round of fee reductions is expected to reach approximately 600 million yuan ($84 million).
The Shenzhen Stock Exchange has announced that it will enhance its efforts to reduce fees in 2024, including exempting companies and listed funds from listing fees, as well as reducing fees for certain transactions involving funds, bonds, and asset-backed securities, according to the Chinese news agency “Xinhua.
Shenzhen Stock Exchange stated that it is expected that the total fee reductions for the exchange will exceed 320 million yuan (approximately 45 million dollars) by 2024.
The Chinese stock market saw a decline in its first trading session of the new year, 2024.
The Hang Seng index dropped by 1.71%, equivalent to 292.3 points, reaching a level of 16,755.09 points.
The SSE Composite Index in the Shanghai Stock Exchange dropped approximately 0.43 percent, or equivalent to 12.66 points, to reach 2962.28 points.
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