Discounts as low as 0.1%! Banks' fund sales fees drop again, industry insiders: How to balance concession and middle-income?

In the midst of the fierce competition in the banking sector, fund sales fees have dropped again.

Recently, Shenzhen Rural Commercial Bank announced a fee discount of 0.1% for certain open-ended funds (front-end model). Similar discounts are not uncommon; previously, Cangzhou Bank also launched an activity offering a 0.1% fee discount for over 120 funds available through its mobile banking channel.

Compared to the majority of large banks and joint-stock banks that offer 1% sales fees for fund sales, some smaller banks' discounts appear more substantial. Industry insiders who spoke with our journalist explained that smaller banks face difficulties in competing with larger institutions on channels, sales, and comprehensive services.

As a result, they have resorted to lowering their fees to maintain their scale and stability.