All Members,
In firm adherence to the significant resolution of the Central Committee of the Communist Party of China, the State Council, and the Party Committee of the People's Bank of China regarding the financial sector serving the real economy, Shanghai Gold Exchange (SGE) will continue to implement various measures in 2025 to reduce the transaction costs for investors. These initiatives are designed to effectively enhance market liquidity, serve the industry, the market, and our members, ensuring the sustainable and healthy development of the market. The specific measures are hereby notified as follows:
From January 1, 2025, to December 31, 2025, the transaction fee rates for Au(T+D) and mAu(T+D) will be 0.015%, and for Ag(T+D) will be 0.012%. The transaction fee rates for Au(T+N1), Au(T+N2), NYAuTN06, and NYAuTN12 will be 0.01%. The short-term opening transaction fee rates for Au(T+D) and mAu(T+D) will be 0.0125%, and for Ag(T+D) will be 0.0075%. The transaction fees for short-term closing positions of Au(T+D), mAu(T+D), Ag(T+D), Au(T+N1), Au(T+N2), NYAuTN06, and NYAuTN12 will be exempted.

From January 1, 2025, to December 31, 2025, the transaction fee rates for main board physical gold contracts, including Au99.99, Au99.95, Au100g, and Au99.5, will be 0.03%. Transaction fees for Ag99.99 contracts will be exempted.

From January 1, 2025, to December 31, 2025, transaction fees for Shanghai Gold and Shanghai Silver benchmark price contracts, Panda Gold Coin contracts and performance-guarantee price asking contracts will be exempted.

From January 1, 2025, to December 31, 2025, the transaction fee rate for main board price asking contracts via SGE platform and interbank gold price asking swaps with far-leg range from TOM (inclusive) to SPOT (inclusive) is 0.0001%.

From January 1, 2025, to December 31, 2025, the transaction fee rate for price matching contracts iAu99.99, iAu99.5, iAu100g on International Board will be 0.005%. For International Board price asking contracts, the transaction fee for iPAu99.99, iPAu99.5, iPAu100g spot and forward contracts with physical delivery will be 0.01%. For International Board price asking contracts iPAu99.99 swaps with physical delivery and far-leg range from TOM (inclusive) to SPOT (inclusive), the transaction fee will be 0.0001%.

From January 1, 2025, to December 31, 2025, for international members participating in International Board price asking contracts iPAu99.99, iPAu99.5, iPAu100g swap with physical delivery , preferential transaction fee rates will be implemented based far-leg maturity date range in SGE system. The details are as follow: 0.0002% for TOM (inclusive) to SPOT (inclusive) (excluding iPAu99.99), 0.001% for 1D (inclusive) to 2W (exclusive), 0.0025% for 2W (inclusive) to 3W (exclusive), 0.005% for 3W (inclusive) to 2M (exclusive), and the transaction fee rate remains unchanged at 0.01% for 2M (inclusive) and above.