Shanghai Clearing House announces phased bond fee reductions

The Shanghai Clearing House has announced a phased reduction in bond business fees. From October 1, 2026, to December 31, 2028, the institution will implement several cost-saving measures for bond issuers and market participants.

Key adjustments include the continued waiver of issuance registration fees for all bonds and a 50% reduction in interest payment and redemption service fees. Notably, service fees for Panda bonds regarding interest and redemption will be fully waived.

For settlement and transfer services, current bond settlement fees will receive a 10% discount, while fees for pledged repo, buyout repo, bond lending, and bond forwards will be reduced by 5%. Market makers will receive further discounts on current bond settlement fees, with rates adjusted to 72% of existing standards for market-making transactions.