Caixin
Mar 18, 2022 03:22 AM
FINANCE

China to Cut Transaction Settlement Fees to Reduce Capital Costs

Brokerage stocks surge on news of settlement fee cut.
Brokerage stocks surge on news of settlement fee cut.

China’s stock clearing agency will cut or waive certain registration and settlement fees to reduce the cost of capital as part of efforts to boost investor confidence in response to the recent market sell-offs, the agency said Thursday.

The China Securities Depository and Clearing Co. said in a statement it will reduce the minimum provision payment ratio for stock settlements from 18% to 16% starting in April.

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