China halves stock transfer fees to invigorate capital market

In this undated file photo, investors check share prices at a brokerage in Fuyang, Anhui province. (PHOTO BU LU QIJIAN / FOR CHINA DAILY)

BEIJING – China has decided to halve stock transfer fees starting Friday to further lower the trading costs for investors and spur market vitality, according to a circular issued by the country's stock clearing agency.

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Stock transfer fees will be generally cut to 0.001 percent of stock trading turnover, the China Securities Depository and Clearing Co, Ltd said on its website late on Thursday.

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The move aims at promoting the stable and healthy operation of the market, as well as better shoring up the real economy, the company said.