京东，放大招

Group 1 - JD Finance has launched a new initiative allowing PLUS members to purchase funds without any subscription fees, marking a significant move in the fund distribution sector [1][2] - The initiative is part of a broader trend where major internet platforms are reducing fund subscription fees, with JD's action being one of the most substantial in recent years [1][8] - The China Securities Regulatory Commission's recent action plan aims to lower investor costs, which aligns with JD's strategy to reduce the cost of fund purchases for investors [1][6] Group 2 - PLUS members can enjoy unlimited fund purchases with zero subscription fees, although trial members do not qualify for this benefit [3][4] - The fee waiver applies to purchases made through the JD platform, with certain exceptions for new funds and specific transactions [3][4] - The fee reduction can save investors significant amounts; for example, a 1.5% subscription fee on a 100,000 yuan investment would save 1,500 yuan [5] Group 3 - The effectiveness of the "0 subscription fee" initiative in attracting new customers remains uncertain, as the financial channel on JD's main app is not prominently featured [6][7] - While the initiative may enhance the value of the PLUS membership and encourage renewals, attracting new users may require additional resources [6][7] - As of the end of last year, JD's fund sales company held 126.3 billion yuan in non-monetary market fund assets, ranking 20th in the industry [7] Group 4 - The trend of lowering fund subscription fees is becoming widespread, with various banks and platforms implementing similar measures to enhance competitiveness [8][9] - The market is expected to see a long-term decline in fund fees as competition intensifies among different distribution channels [9]