在内地投资者印象里向来贵得咋舌的港股交易佣金，竟然降到了3.68港元一笔，而且还不限额 In the mainland investors impression has been expensive affair for Hong Kong stocks transaction commission，Unexpectedly dropped to 3.68 Hong Kong dollars a pen，But also don't limit

　　由于成交持续低迷，佣金战持续升级，香港的小型券商正在经受“史上最严峻的考验”。 Due to the continuing malaise clinch a deal，Commission continual upgrading of the war，Hong Kong's small brokerage is experiencing“History's most severe test”。

　　记者 时娜 编辑 李剑锋

When the reporter, editor LiJianFeng

　　持续低迷的成交终于把一些香港券商逼上了“绝路”，近日，香港某券商将网上交易佣金降至每笔不限额统一收3.68港元，创出香港证券交易佣金新低，也将佣金战推向白热化。

The last downturn clinch a deal finally gets some Hong Kong brokers“Blind alley”，recently，A Hong Kong securities commission online transactions will fall to the pen limit unified collect each hk $3.68，The Hong Kong securities and exchange commission makes low，The commission also war to heat up。

每笔佣金低至3.68港元 Each transaction commission low to hk $3.68

　　在内地投资者印象里向来贵得咋舌的港股交易佣金，竟然降到了3.68港元一笔，而且还不限额，让人觉得不可置信。但这确实是香港某券商推出的新标准，也在一定程度上反映了香港佣金战的激烈程度。

In the mainland investors impression has been expensive affair for Hong Kong stocks transaction commission，Unexpectedly dropped to 3.68 Hong Kong dollars a pen，But also don't limit，Let a person feel incredibly。But this is really a Hong Kong launched the new standard brokers，A certain extent had also reflected the intensity of the Hong Kong commission war。

　　事实上，自2003年香港证券交易佣金0.25%的统一征收标准及单笔最低100港元的限制取消后，香港证券行业的佣金战就一直没停过。证券交易的佣金收费，也从最初的成交金额的0.25%，一路降至0.1%以下，佣金“万八”、“万六”在香港随处可见。

In fact，Since the 2003 Hong Kong securities and exchange commission 0.25% of uniform collection standards and single pen minimum hk $100 limit cancelled，Hong Kong securities industry commission war hasn't been stopped。Securities and exchange commission charges，Also from the original 0.25% of the transaction price，All the way down to below 0.1%，commission“Eight thousand”、“Six thousand”In Hong Kong are everywhere。

　　香港资深金融从业人员文刚锐告诉记者，由于增值服务较为完善，目前只有外资大行对港股交易的佣金收费仍维持在交易金额的0.15%至0.25%之间，其余普遍已降至0.1%左右，包括中资券商香港子公司。

Veteran Hong Kong financial employees WenGang sharp told reporters，Due to the relatively perfect value-added services，At present, only big bank of foreign capital stocks trading commission charge remains the transaction amount of between 0.15% to 0.25%，The rest has generally fall to about 0.1%，Including Chinese brokerages Hong Kong subsidiary。

　　近几年，随着网上交易的兴起，佣金收费进一步减至每笔10港元、5港元、4.99港元，现在又出现了3.68港元的“全城新低”。

In recent years，With the rise of online transactions，Commission rates further reduced to 10 per pen the Hong Kong dollar、Hk $5、Hk $4.99，Now there of hk $3.68“Low against the city”。

　　值得注意的是，与内地不同，香港的佣金收费仅指证券公司的收费，并非包括所有交易费用。文刚锐告诉记者，港股投资者买卖股票除了要支付交易佣金外，还要给香港交易所缴纳0.005%的交易费、给香港证监会缴纳0.003%的交易征收费，以及给特区政府缴纳印花税等其他费用。此外，实物股东进行股票提取或存入时，结算所还要征收相关处理费用，证券公司也要收取行政手续费。

Note the，And mainland different，Hong Kong commission charges only refers to a securities company charges，Not including all transaction costs。WenGang sharp told reporters，Stock investors buy and sell stocks in addition to the pay commissions，The Hong Kong stock exchange still have to pay 0.005% of the transaction fee、To the Hong Kong securities pay 0.003% of trading for the charge，And to the hksar government pay stamp duty and other expenses。In addition，Real shareholder stocks extracted or deposit，Clearing will collect relevant treatment，Securities companies will charge administrative fees。

小券商遭“史上最严峻的考验” Small brokers in“History's most severe test”

　　“类似于3.68港元这样的按笔划一收费仅限于网上交易，由于不涉及客户经理的分成，证券公司推这样的优惠不会增加额外支出，低迷市况下，赚一笔是一笔，聊胜于无。”某港资券商经纪业务负责人坦言，“何况还可以起到宣传的作用，能够吸引客户，活跃成交。”

“Similar to hk $3.68 so according to a charge of stroke is limited to trade on the net，Because do not involve the into account manager，Securities companies push such preferential doesn't increase the extra expenses，Under the market downturn，To make a fortune is a pen，Half a loaf is better than none。”Some hong kong-invested brokers brokerage business controller said，“How much more still can rise to the role of propaganda，Can attract customers，Active clinch a deal。”

　　由于成交持续低迷，佣金战持续升级，香港的小型券商正在经受“史上最严峻的考验”。

Due to the continuing malaise clinch a deal，Commission continual upgrading of the war，Hong Kong's small brokerage is experiencing“History's most severe test”。

　　据港交所的资料显示，港股今年前7个月日均成交仅548亿港元，较去年缩水25%。500多亿的成交额中，又有逾90%产生自排名前65的A类和B类券商，总量多达490家的C类券商，市场总占有率不到10%。

According to Hong Kong exchange data shows，Hong Kong stocks this year the first seven months of the average only 54.8 billion hk dollar clinch a deal，Shrink 25% than last year。More than $500 in the business，And more than 90% of the top 65 result from the type A and B class brokers，The total amount of the house of as many as 490 C brokers，Total market share of less than 10%。

　　以0.1%的佣金率计算，今年前7个月，香港490余家小券商的经纪业务总收入合计不到4000万港元，“根本无法覆盖证券公司的成本，很多券商处于连续亏损中。”一位港资券商老总称。

With 0.1% of the commission ratio，First seven months of the year，More than 490 small of Hong Kong securities brokerage business revenue totals less than hk $40 million，“Can't cover the cost of the securities firm，Many brokers in continuous loss。”A hong kong-invested brokers old total says。

“割喉战”害人害己 “Cut throat war”Harm set

　　文刚锐表示，无论是对券商自身还是行业，自杀式的佣金战都非常不利。

WenGang sharp said，Both for brokers itself or industry，Suicide commission war is very adverse。

　　文刚锐指出，对于推出类似3.68港元这样超低佣金的券商来说，他们的网上交易客户可能会增加，但是这同时会导致客户经理的流失，如果低佣金策略所带来的客户增量比客户经理带走的少，公司实质上是“搬起石头砸自己的脚”；而对于行业来说，佣金战可能导致大批小型券商被淘汰，市场集中度将进一步提高，容易形成垄断，而且也会打击新客户经理入行的意愿。

WenGang sharp points out that，Launch similar to hk $3.68 so low commission for brokers，Their online trading customer may increase，But it will also lead to the loss of customer manager，If low commission strategy brought about by the customer increment customer manager of less than take away，The company is in essence a“With his own petard”；And to industry as a whole，Commission could lead to a large number of small brokerage war have been eliminated，Market concentration will be further improved，Easy to form monopoly，And will blow to move into the new customer manager will。

　　“小型券商应该在服务上下功夫，通过给客户提供有价值的资讯服务、提供多市场及多品种的交易平台等，争取及留住客户。”文刚锐说。

“Small brokerage should be in service fluctuation kongfu，Through to the customer to provide valuable information service、Provide much of the market and many varieties of the trading platform, etc，Strive for and retain customers。”WenGang sharp said。