China funds slash ETF fees, escalating price war in booming market

SHANGHAI/HONG KONG – Major Chinese fund companies announced a big reduction in fees for a batch of equity exchange-traded funds (ETFs) on Wednesday, intensifying price competition in the rapidly expanding $400 billion sector of the market.

The move to cut management and custodian fees by as much as 70% came a day after Wu Qing, China’s chief securities regulator, pledged to encourage index investment and fund industry f