On August 25, the China Central Depository & Clearing Co., Ltd. (CCDC) issued a formal notice detailing a reduction in fees for certain core operational services. The institution has decided to lower charges across several key areas to align with national fiscal policies.

The first major adjustment involves a full waiver of the issuance and registration service fees for international bonds, specifically Panda bonds. Furthermore, the fee rate for coupon payment and redemption services on outstanding bonds in the interbank bond market will be discounted by 5%, bringing the adjusted rate to 0.0475 per 10,000. This charge is also completely waived for technology innovation bonds and Panda bonds.

For cash bond trading settlement services on instrument types and entities not previously covered by existing preferential policies, a 10% discount will be applied, setting the fee at RMB 135 per transaction. Additionally, settlement services for pledged repo, outright repo, and bond lending in the interbank market will see a 5% reduction, with new rates of RMB 114 for single-instrument pledged repo, RMB 190 for multi-instrument pledged repo, and RMB 190 for outright repo and bond lending, including cross-custodian and centralized lending.

Services for the over-the-counter bond business will also benefit from a 5% discount on settlement fees across all trading varieties, such as cash bonds, pledged repo, outright repo, bond lending, and bond forwards. The adjusted fee is set at 0.019 per 10,000 of the settlement amount, with a cap of RMB 120 per transaction.

These preferential measures will be effective from September 1, 2026, through December 31, 2028. The CCDC has stated that any future adjustments will be communicated separately, reinforcing its commitment to strengthening national financial infrastructure and enhancing service efficiency for the market and its clients.