Securities Supervision Commission: timely and appropriate to guide industry institutions to reduce large wide-based stock ETF management rates and custody rates

On January 26th, the China Securities Supervision Commission issued the "Action Plan for Promoting the High-Quality Development of Indexed Investment in Capital Markets". It proposes to reduce the investment cost of index funds. Continue to waive the annual listing fee for ETFs, promote the reduction or reduction of ETF market making, registration and settlement, index use and other fees, and continue to reduce the operating costs of index funds. Guide industry institutions to reduce the management fees and custody fees for large-scale broad-based stock ETFs in a timely and appropriate manner. Change the index license fee for existing index funds from the fund property to be borne by the fund manager.