SSE Persistently Boosts Effectiveness of Fee Reduction

On December 29, 2023, the Shanghai Stock Exchange (SSE) released the Notice on Temporary Waiver of Certain Fees for 2024, initiating a series of measures of fee reduction for the forthcoming year. The SSE, along with its subsidiaries, has proactively fulfilled its responsibility of fee reduction by temporarily waiving or lowering fees, and introducing discounts. Based on preliminary estimation, this initiative to reduce fees is projected to confer approximately RMB 600 million in benefits to the market.

In 2024, the SSE intends to intensify its efforts towards fee cutting, thereby effectively bolstering the sense of gain among listed companies, investors, and market institutions, while enhancing the quality of market services. As part of this round of fee cutting, the SSE plans to exempt SSE listed companies from listing fees, waive the trading unit usage fee, and continue waiving certain bond transaction handling fees. Its subsidiary, the SSE InfoNet Co., Ltd., plans to waive fees on services including SSE e-service, SSE e-voting, CA certificate service, SSE cloud roadshow service, SSE chain service, and the lottery draw fee for the issuance of new shares and convertible bonds. Other subsidiaries, such as the SSE Technology Co., Ltd. and the SSE Data Service Co., Ltd., aim to maintain the data center cabinet fee-cutting policy whilst introducing discounts on cabinets, office facilities, and other related products.

In recent years, the SSE has diligently implemented the instructions of the CPC Central Committee and the State Council on the reduction of taxes and fees, and introduced fee-cutting measures many times, enhancing the quality of market services while delivering benefits to the market. In a bid to foster the development of new products and businesses, the SSE has successively instituted measures such as waiving the listing fees for listed funds and public REITs, as well as transaction handling fees. To support corporate bond financing, the SSE has waived transaction handling fees for bonds other than convertible bonds for three years. To invigorate the capital market and boost investor confidence, it has reduced the stock transaction handling fee by 30%. Following the implementation of fee-cutting this time, the SSE has granted full listing fee exemptions to SSE listed companies for three consecutive years, waived the trading unit usage fee for members and others for four consecutive years, and its subsidiaries have reduced network voting service fees, CA certificate service fees, SSE cloud roadshow service fees, and SSE chain service fees for SSE listed companies for three consecutive years, and reduced data center cabinet service fees for institutions for three consecutive years.

Aligning with the instructions of the CPC Central Committee Political Bureau Meeting, the Central Financial Work Conference, and the Central Economic Work Conference, the SSE is committed to better leveraging the pivotal function of the capital market, diligently performing its duties, and relentlessly striving to accelerate the construction of a modern capital market with Chinese characteristics.