Trading fee cut seen to lift brokerages' income
By Lilith Hu |
May 3, 2012, Thursday
|
Print Edition
Print Edition
A cut in trading fees for A shares, announced recently, will increase brokerages' income by reducing their payment to stock exchanges.
Trading fees for A shares will be cut by 25 percent generally from June 1, the China Securities Regulatory Commission has announced.
According to the new rules, the Shanghai Stock Exchange and the Shenzhen Stock Exchange will charge both buyers and sellers 0.0087 percent of the transaction value, and the Shanghai branch of the China Securities Depository and Clearing Co will set transfer fees at 0.0375 percent of the transaction value.
Analysts said the new measures will have a very limited impact on the market as retail investors will not benefit unless the brokerages cut commissions.
"Only the reduced transfer fees benefit private investors, the rest of the adjustments are related to brokerages," said Ye Tan, an independent business commentator.
The planned rules also included a stricter process to delist underperforming stocks.
The CSRC has also released its final guidelines on new rules for initial public offerings. It said the changes should see reasonable share prices and improve information disclosure.
Trading fees for A shares will be cut by 25 percent generally from June 1, the China Securities Regulatory Commission has announced.
According to the new rules, the Shanghai Stock Exchange and the Shenzhen Stock Exchange will charge both buyers and sellers 0.0087 percent of the transaction value, and the Shanghai branch of the China Securities Depository and Clearing Co will set transfer fees at 0.0375 percent of the transaction value.
Analysts said the new measures will have a very limited impact on the market as retail investors will not benefit unless the brokerages cut commissions.
"Only the reduced transfer fees benefit private investors, the rest of the adjustments are related to brokerages," said Ye Tan, an independent business commentator.
The planned rules also included a stricter process to delist underperforming stocks.
The CSRC has also released its final guidelines on new rules for initial public offerings. It said the changes should see reasonable share prices and improve information disclosure.
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