China's stock exchanges waive fees for listed firms

BEIJING -- The three stock exchanges in China have announced certain fee exemptions for listed firms to help shore up growth in COVID-19-affected areas.

The Shenzhen Stock Exchange said on Friday it will waive initial and annual listing fees and a shareholder online voting service fee throughout 2022, building on an earlier decision to exempt these fees for listed firms in Shaanxi, Henan and Tianjin.

The announcement followed Thursday statements from the Shanghai and Beijing stock exchanges of similar exemptions for listed firms in Shenzhen, Inner Mongolia, Shandong, Jilin and Shanghai, where resurgences of cases have been reported.

Industry estimates show that fee exemptions from the Beijing Stock Exchange and the National Equities Exchange and Quotations alone could save listed companies over 45 million yuan (about $7 million), excluding exemptions for firms to be listed this year.

A Wednesday meeting of the financial stability and development committee under the State Council has called on financial institutions to firmly support the development of the real economy.