BEIJING, Sept. 5 (Xinhua) -- The China Securities Regulatory Commission (CSRC) on Friday released draft regulations that would lower the rates of sales-related fees for public offering funds, aiming to reduce costs for investors and encourage long-term investment.

The new draft rules, issued to solicit public opinion, are mainly concerned with reducing fees such as subscription fees and sales service charges. They mark the third phase of a fee-rates reform launched by the CSRC in July 2023.

Experts estimate the new draft rules will save investors about 30 billion yuan (about 4.2 billion U.S. dollars) a year, bringing total annual savings from all three phases of the reform to over 50 billion yuan.

Industry insiders view this reform as a solid step in improving the service of fund sales institutions, and in fostering a healthy ecosystem for the high-quality development of the public funds sector. ■