China stock clearing firm to cut some stock settlement fees to reduce capital cost

China's stock clearing agency said on Thursday it will cut or waive certain registration and settlement fees to help revive growth in virus-hit areas, and reduce the cost of capital.

The China Securities Depository and Clearing Co said in a statement it will also reduce the minimum provision payment ratio for stock settlement from 18% to 16% starting in April.

The agency said it is responding to Wednesday's calls by the State Council to aid the real economy.