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China Cuts Transfer Fees For Mainland Stock Trading: Times

CHINA PRESS
MNI (Singapore)

China cut transfer fees for A shares by 50% to 0.01‰ of the transaction amount, the first such cut in nearly seven years to lift investor confidence amid a recent market slump, the Securities Times reported. This will reduce transaction costs for investors by about CNY5 billion per year, based on the CNY256 trillion transaction volume of the Shanghai and Shenzhen stock exchanges in 2021, the newspaper said. Investors were urged to take advantage of the lower fees with the Shanghai Composite Index below 3,000 points, the newspaper said citing Yang Delong, chief economist of First Seafront Fund.

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