BEIJING -- China has decided to halve stock transfer fees starting Friday to further lower the trading costs for investors and spur market vitality, according to a circular issued by the country's stock clearing agency.

Stock transfer fees will be generally cut to 0.001 percent of stock trading turnover, the China Securities Depository and Clearing Co Ltd said on its website late on Thursday.

The move aims at promoting the stable and healthy operation of the market, as well as better shoring up the real economy, the company said.