沪深交易所发布：降费！

Core Viewpoint - The Chinese capital market received favorable policy support on December 26, with both the Shanghai and Shenzhen Stock Exchanges announcing a series of fee reduction measures for 2026, expected to exceed 1.9 billion yuan in total [1][5]. Group 1: Shanghai Stock Exchange Measures - The Shanghai Stock Exchange (SSE) announced a notification to waive certain fees for 2026, including the initial and annual listing fees for existing and new companies, and reduced transaction unit usage fees from 45,000 yuan to 30,000 yuan per year starting July 1, 2026 [2][3]. - SSE will also waive transaction handling fees for various types of bonds (excluding convertible bonds) and asset-backed securities, as well as provide discounts on several service fees related to technology and data services [3][4]. - The total expected fee reduction amount for SSE is approximately 1.113 billion yuan [2]. Group 2: Shenzhen Stock Exchange Measures - The Shenzhen Stock Exchange (SZSE) announced fee reductions for 2026, including waiving listing fees for companies and funds, as well as transaction handling fees for bonds (excluding convertible bonds) and asset-backed securities [5][7]. - Additional measures include waiving transaction unit flow fees for funds and bonds, and reducing the service fees for shareholder meeting online voting by half [5][6]. - The total expected fee reduction amount for SZSE is over 800 million yuan [5]. Group 3: Policy Implications - Both exchanges are implementing these measures to support the real economy, enhance market confidence, and promote high-quality development in line with the central government's economic work conference directives [2][6]. - The initiatives are part of a broader strategy to stimulate market activity and provide substantial benefits to market participants and investors [5][6].