Chinese fund managers are slashing fees on large broad-based equities exchange traded funds as the regulator-led active fund fee reforms spread into the passive fund space.Escalating demand for onshore equities ETFs has also prompted more asset managers to enact fee cuts as they strive to attract more investors and subscriptions amid dismal sales of active equities fund sales.

ICBC Credit Suisse Asset Management became the latest firm to announce on February 8 that it would reduce management and custodian fees for its ICBC Credit Suisse CSI 300 ETF with immediate effect, according to a filing with the China Securities Regulatory Commission.

The Sino-foreign joint venture’s broad-based ETF is the seventh in the market to see fee cuts since the markets regulator confirmed industry-wide fee reforms in July of last year.