The long-term downward trend in commission rates in the securities industry has not changed. The reporter learned that the China Securities Association is conducting thorough research on securities trading commission service models for brokers' investors to explore the transformation of differentiated brokers' service pricing. The China Securities Association pointed out that homogenized competition, low-cost online drainage, and insufficient value-added wealth management services are the core drivers of the decline in commissions, which have caused negative effects such as pressure on brokerage business revenue, affected the quality and efficiency of basic services, and increased risk of unfair competition. The survey also focuses on improving the commission management system, covering ways such as strengthening industry self-discipline, setting rate ranges, supporting value-added services, etc., exploring viable solutions for the transformation from “channel commissions” to “service pricing”, and promoting the market-based standardization of commission pricing mechanisms.

The long-term downward trend in commission rates in the securities industry has not changed. The reporter learned that the China Securities Association is conducting thorough research on securities trading commission service models for brokers' investors to explore the transformation of differentiated brokers' service pricing. The China Securities Association pointed out that homogenized competition, low-cost online drainage, and insufficient value-added wealth management services are the core drivers of the decline in commissions, which have caused negative effects such as pressure on brokerage business revenue, affected the quality and efficiency of basic services, and increased risk of unfair competition. The survey also focuses on improving the commission management system, covering ways such as strengthening industry self-discipline, setting rate ranges, supporting value-added services, etc., exploring viable solutions for the transformation from “channel commissions” to “service pricing”, and promoting the market-based standardization of commission pricing mechanisms.