利好来了！沪深交易所宣布降费

Core Viewpoint - The Chinese capital market received favorable policy news on December 26, with both the Shanghai and Shenzhen Stock Exchanges announcing a series of fee reduction measures for 2026, expected to exceed 19 billion RMB in total [1][10]. Group 1: Shanghai Stock Exchange Measures - The Shanghai Stock Exchange (SSE) announced a notification on December 26, 2025, regarding the exemption of certain fees for 2026, including the initial listing fee and annual fee for both existing and new listed companies [3][7]. - From July 1, 2026, to June 30, 2027, the fee for trading units will be reduced from 45,000 RMB to 30,000 RMB per year [7]. - The SSE will also waive transaction handling fees for various bonds (excluding convertible bonds) and asset-backed securities for 2026, along with discounts on several service fees from its subsidiaries [8][6]. Group 2: Shenzhen Stock Exchange Measures - The Shenzhen Stock Exchange (SZSE) announced similar fee reduction measures, expecting a total reduction of over 8 billion RMB for 2026 [10][13]. - The SZSE will exempt initial and annual listing fees for both listed companies and funds, as well as transaction handling fees for bonds and asset-backed securities [14]. - Additional measures include reduced fees for trading unit flow and network voting services, aimed at enhancing market vitality and supporting the real economy [13][14].