BEIJING, Dec. 29 -- China's Shanghai and Shenzhen stock exchanges said on Friday that they would reduce or waive certain trading and service fees totaling approximately 920 million yuan (about 130 million U.S. dollars) in 2024.

The Shanghai Stock Exchange announced that it would waive listing fees for listed companies and continue to waive certain bond transaction fees in 2024, among other measures.

Preliminary estimates show that this round of fee reductions is expected to reach about 600 million yuan, the Shanghai-based bourse said.

The Shenzhen Stock Exchange (SZSE) said it would enhance its efforts to reduce fees in 2024, with listing fees for listed firms and funds, and certain transaction fees for funds, bonds and asset-backed securities exempted.

The total fee reductions for the SZSE are expected to exceed 320 million yuan in 2024, the exchange said.