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China financial futures, stock exchanges to cut fees in 2023

December 23, 2022By Reuters

SHANGHAI, Dec 23 (Reuters) – China’s financial futures and stock exchanges said on Friday they would cut or waive some fees in 2023, to lower the cost of trading for market participants.

China’s State Council, or cabinet, has been urging various government bodies to cut fees and taxes to aid an economy struggling with the COVID-19 pandemic.

The China Financial Futures Exchange (CFFEX) said in a statement it would halve delivery fees for bond futures and equity index futures in 2023. It would also cut by half exercise fees for equity index options.

“Such arrangements will effectively reduce the cost of financial futures transactions, better meet investors’ risk management needs, and enhance financial support for the real economy,” CFFEX said in a statement on its website.

In separate statements on Friday, the Shanghai and Shenzhen stock exchanges said they would waive some fees in 2023 to support the real economy and reduce market costs for participants.

Listed companies would be temporarily exempt from initial listing fees and annual listing fees. Some trade-related fees will also be reduced.

(Reporting by Shanghai newsroom; Editing by Jane Merriman and Jacqueline Wong)

 

This article originally appeared on reuters.com

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