Core Viewpoint - The article discusses the significant changes in commission rates for public funds following the implementation of new regulations, highlighting a notable decrease in trading commission fees and the introduction of standardized procedures for selecting brokerage firms [1][2][3]. Group 1: Commission Rate Changes - The new commission regulations, effective from July 1, 2024, set maximum commission rates for passive equity funds at 0.0262% and for other types at 0.0524% [2]. - Institutions have reported that their commission rates for the second half of 2024 are all below the regulatory caps, with specific rates such as Huatai Asset Management at 0.02% and Mingya Fund at 0.019% for passive equity funds [2]. Group 2: Disclosure of Brokerage Selection Standards - For the first time, institutions have publicly disclosed their criteria for selecting brokerage firms, which include factors such as financial stability, compliance capabilities, and strong research capabilities [4][5]. - Research capability has been emphasized as a key criterion, with firms like Zhongtai Asset Management and Yimi Fund prioritizing brokers with strong research support [4]. Group 3: Impact of Commission Reform - The commission reform has led to a significant restructuring of the brokerage landscape, with ineffective channels and brokerage seats being eliminated, allowing for a focus on brokers that meet institutional needs [7]. - The long-standing model of "fund sales in exchange for trading commissions" has been disrupted, leading to a new emphasis on research capabilities in the selection of brokers [7].