Shanghai August A-Share Brokerage Commission Rate Rises 4.32% MoM to 0.0169%

The monthly uptick matters less than the structural picture: commission rates keep grinding lower over time, and this August reading does not reverse that. The squeeze falls on brokerage revenue models built around trading volume, which is why the push into wealth management keeps accelerating. The open question is whether firms can replace lost commission income with fee-based advisory and product revenue before the erosion bites further.