Public offering fund fee reduction reform is near completion, with an expected annual savings of over 50 billion yuan.

After 12 years, the management rules for sales expenses of public funds have been revised. On September 5th, the China Securities Regulatory Commission released the revised "Provisions on the Management of Sales Expenses of Publicly Offered Securities Investment Funds" and solicited opinions from the public. Reporters learned that the policies related to performance benchmarks and related supporting rules, in addition to the subsequent fee rate reform, are expected to benefit investors by more than 50 billion yuan annually on the basis of already lowered fund management fees, custodian fees, and transaction fees. Industry insiders pointed out that in recent years, the public fund industry has made significant progress in reducing investor costs and reshaping the industry ecology through systematic fee rate reform. The significance behind this progress lies not only in short-term benefits, but also in promoting the long-term transformation towards value-oriented industry.