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The China Securities Regulatory Commission Commission
Circular On Transmitting the Circular of the State Development Planning Commission and the Ministry of Finance on Re-Verification
of the Charging Criteria of Regulatory Fees of the Securities Market and the Relevant Issues
ZhengJianHuiJiZi [2003] No.2
February 9, 2003
Stock and futures exchanges, securities, fund and futures companies, and enterprises applying for public issuance of stocks, convertible
bonds and funds:
Here is to transmit the Circular of the State Development Planning Commission and the Ministry of Finance on Re-Verification of the
Charging Criteria of Regulatory Fees of the Securities Market and the Relevant Issues (JiJiaGe [2003] No. 60, see Attachment) and
notify you of the issues on payment of the fees as follows:
I.
The adjustment of the charging criteria on the regulatory fees of securities transactions only involves the increase and decrease
of the charging criteria between the CSRC and the stock exchanges while the charging criteria with the securities institutions and
investors remains the same. Upon the adjustment of the charging criteria on the regulatory fees of securities transactions, the formalities
fees for stock transactions with Shanghai and Shenzhen Stock Exchanges are decreased by 0.005nd that for fund transactions increased
by 0.04nd that for bond (exclusive of repurchase of treasury bonds) transactions increased by 0.01The regulatory fees of
securities transactions should be paid monthly, and Shanghai and Shenzhen Stock Exchanges shall pay the regulatory fees of securities
transactions of the previous month to the special remittance account of the central treasury before the 20th day of the next month.
II.
The fees for review and verification of public issuance should be paid to the special remittance account of the central treasury by
the enterprise applying for public issuance of stocks (including initial public issuance, additional issuance and allocation), convertible
bonds and funds when the CSRC accepts and investigates on application materials.
III.
The regulatory fees of financial institutions should be based on the registered capital as of the end of the last year, which should
be paid to the special remittance account of the central treasury by the securities firms, fund companies, futures companies before
April each year.
IV.
The regulatory fees of the futures markets should be paid monthly, and Shanghai, Dalian and Zhengzhou Futures Exchanges shall pay
the corresponding regulatory fees of futures market of the previous month to the special remittance account of the central treasury
prior to the 20th day of the next month.
V.
The special remittance account of the central treasury is as follows:
(I)
By T/T or M/T
Opening bank: CITIC Industrial Bank Head Office
Name of account: CSRC (special remittance account of the central treasury)
Bank account: 7111010189800000162
(II)
By transfer cheque or bank draft
Opening bank: CITIC Industrial Bank Head Office
Name of account: CSRC Accounting Department
Bank account 7111010189800000162
The above-mentioned paying units are required to pay the fees in a timely manner and upon payment timely notify our Accounting Department
of the communication addresses. In case of failure to pay the relevant fees, the CSRC may temporarily stop accepting the relevant
securities and futures businesses.
Contact: CSRC Accounting Department
Contact Tel: 01088061689 88061330
Contact with: Wang Meiling, Liu Yunfeng
Attachment: The Circular of the State Development Planning Commission and the Ministry of Finance on Re-Verification of the Charging
Criteria of Regulatory Fees of the Securities Market and the Relevant Issues Attachment:Circular of the State Development Planning Commission and the Ministry of Finance on Re-Verification of the Charging Criteria of Regulatory
Fees of the Securities Market and the Relevant Issues
JiJiaGe [2003] No. 60
January 8, 2003
China Securities Regulatory Commission Commission :
Your Letter Concerning Applying for the Adjustment of the Charging Criteria on Regulatory Fess of Securities and Futures Markets (ZhengJianHan
[2002] No. 268) has been acknowledged. And through study, the re-verified charging criteria of regulatory fees of the securities
market and the relevant issues are notified as follows in the principle of compensation of reasonable fees:
I.
The regulatory fees of securities transactions. For stocks, the fees should be decreased from 0.045% as per annual transaction volume
to 0.04for securities investment fund, charged at 0.04for bonds (exclusive of repurchase of treasury bonds), at 0.01The
fees should be paid by Shanghai and Shenzhen Stock Exchanges.
II.
The fees for review and verification of public issuance. For the enterprises applying for public issuance of stocks (inclusive of
convertible bonds), the criteria on collection of the fees for examination and verification of public issuance is adjusted from RMB30,000
to RMB200,000 per enterprise, and considering the different issuance procedures between funds and stocks, the fees concerned for
fund issuance are slightly lower than those for the stock issuance, which is RMB160,000 per enterprise.
III.
The regulatory fees of financial institutions. The fees collected only from the securities firms are adjusted as being collected from
the securities firms, fund management companies and futures brokerage companies that are registered in the territory of the PRC.
The fees collected from the securities firms annually at 1f the registered capital but no less than RMB10,000 and no more than
RMB100,000 are adjusted as annually at 0.5f the registered capital but no more than RMB300,000. The fees collected from the fund
management companies are annually at 0.5f the registered capital but no more than RMB300,000, and those from futures brokerage
companies annually at 0.5f the registered capital but no more than RMB50,000.
IV.
The regulatory fees of the futures markets. The fees still remain at annual 0.002s per the annual transaction volume, to be collected
from Shanghai, Dalian and Zhengzhou Futures Exchanges.
V.
The CSRC shall go through the formalities as specified with the State Development Planning Commission for alteration of the charging
licenses, and adopt the bills uniformly made and printed by the Ministry of Finance.
VI.
The CSRC shall execute the relevant charging of fees according to the charging items, charging scope and charging criteria as specified
and accept the regulatory supervisions by the state pricing and financial departments.
VII.
The Circular shall enter into force as of January 1, 2003 for a term of three years, upon expiration of which the CSRC shall submit
applications to the State Development Planning Commission and the Ministry of Finance. The fees to be charged of 2002 by the CSRC
should be executed in compliance with the Circular of the State Development Planning Commission and the Ministry of Finance on Adjustment
of the Charging Criteria of Regulatory Fees of the Securities Market (JiJiaGe [2000] No. 1059). As of the date of the execution of
this Circular, the provisions concerning the charging criteria on regulatory fees of the securities and futures markets of the State
Development Planning Commission and the Ministry of Finance shall be nullified simultaneously.
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