Chinese Brokerages Slash New-Account Commissions Below 0.01%

The squeeze below the 0.01% line is really a signal about the business model, not the pricing: once commissions sit fractions above the exchange's mandatory fee, the brokerage channel has effectively been commoditised and there is no room left to compete on price. That shifts the pressure onto service, distribution and product capability, which favours larger, better-capitalised institutions and forces smaller brokers to find a niche or consolidate. Whether the advertised rates hold once promotional periods end, and whether the restructuring the experts describe actually produces consolidation, is the open question.