China Securities Association: Average Net Brokerage Commission Falls to 0.0171%

The headline number matters less than the direction of travel: commission compression is a structural squeeze on brokerage economics, and a sub-2-basis-point industry average leaves little room for further cuts to absorb. The offsetting detail is the scale of client assets under trading and custody, which suggests firms are being pushed to compete on volume and ancillary services rather than execution pricing. Whether the rate keeps sliding or stabilizes as costs approach a floor is the open question for anyone tracking the health of China's retail brokerage model.