BEIJING, Aug. 18 -- China's three stock exchanges in Shanghai, Shenzhen and Beijing will cut the handling fees in stocks trading from Aug. 28 to spur the market, the securities watchdog said on Friday.

The Shanghai and Shenzhen bourses will axe the handling fees in A-share and B-share securities trading by 30 percent, or from 0.00487 percent of the trading value to 0.00341 percent, according to the China Securities Regulatory Commission.

After a 50 percent cut in such fees in Dec. 2022, the Beijing Stock Exchange will lower this fees by another 50 percent from 0.025 percent to 0.0125 percent.

The watchdog said it will further encourage cuts in brokerage commissions to reduce investors' costs in trading.