China's stock exchanges in Shanghai and Shenzhen on April 30 both said they will cut brokerage fees for A-share transactions by over 25 percent starting June 1 in a bid to alleviate investor burdens.

The brokerage fee at the Shanghai bourse will be lowered from 0.011 percent to 0.0087 percent of the trading volume. The Shenzhen bourse will lower the fee from 0.0122 percent to 0.0087 percent.

China Securities Depository and Clearing Corp. will also lower the registration fee for A-share transactions in the Shanghai bourse from 0.05 percent to 0.0375 percent of the trading volume.

It's estimated that the cuts in transaction fees will save investors about 3 billion yuan ($477.81 million) annually.

The cuts will markedly lower the transaction cost and investor burden, and thus contribute to the healthy development of the country's capital market.