Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Sept. 6 (Xinhua) — China's securities regulator on Friday amended and released the "Regulations on the Management of Costs for the Sale of Portfolio Investment Funds Raised through Public Offerings," aiming to reduce costs for investors and encourage long-term investment.
The draft rules, which have been submitted to the public, focus on prudent reductions in fees such as placement fees, bid application fees and sales service fees. They mark the third phase of the fee reforms launched by the committee in July 2023.
The document, according to experts, will allow investors to save about 30 billion yuan (about 4.2 billion US dollars) per year, as a result of which the total annual savings from all three stages of the reform will exceed 50 billion yuan.
Industry insiders see the reform as an important step in improving services to institutions selling portfolio investment funds raised through public offerings and in creating a healthy environment for high-quality development of the public offering fund sector. -0-
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