Shenzhen Stock Exchange Lowers The Stock Listing Fees To Support Listed Companies

On December 13, SZSE issued the Notice on Lowering the Stock Listing Fees. As of the date of the Notice, SZSE shall suspend the initial listing fee for listed companies with a total share capital of not more than CNY400 million, and halve the initial listing fee for listed companies with a total share capital of more than CNY400 million based on the current rates. As of 1 January 2020, SZSE shall suspend the annual listing fee for listed companies with a total share capital of not more than CNY400 million, and halve the annual listing fee for listed companies with a total share capital of more than CNY400 million according to the current rates.

The fees for listing on SZSE include the initial listing fee and the annual listing fee, which shall be charged according to the total share capital of the listed company. In April 2012, in order to ease the burden on SMEs and support the listed companies, SZSE decided to halve the initial listing fee of listed companies on the Main Board and the SME Board (the amount of which shall be rounded to yuan), and halve the initial listing fee and annual listing fee of ChiNext Board-listed companies on the basis of the rates charged for the Main Board and the SME Board as approved. This is a further lowering of the stock listing fees on the basis of the current preferential rates that have been implemented so far, which is expected to ease the burden on listed companies on SZSE by more than CNY100 million.

The relevant person in charge of SZSE said that, SZSE has firmly implemented the decision of the CPC Central Committee and the State Council on tax and fee reduction. In recent years, under the guidance of the CSRC and in accordance with the practice, SZSE has developed and implemented a number of fee reduction policies, which have been widely recognized by market participants. Lowering stock listing fees is an important measure for SZSE to implement the fee reduction policy, better serve the real economy, effectively ease the burden on enterprises, and further support the listed companies.