(Beijing Comprehensive News) In order to revive the decline in the decline and restore investor confidence, the China Securities Regulatory Commission announced a series of policies and measures including reducing transaction costs and extending transactions.
The weak economic recovery, the exposure of the risk of housing enterprises, and the continuous tension of geopolitical relations, global investors are at a low level of assets in China, the Chinese stock market has fallen successively, and the Shanghai Index and the Shenzhen Index Index fell on Friday (August 18) to falling to the Shanghai Index (August 18) to fall to the September (August 18) fell to the Shanghai Index and the Shenzhen Index fell to the September (August 18th) to falling to the September (August 18th) to fall to fell to the September (August 18th) to falling to the September (August 18th) to fall to fell to the September (August 18th) to fall to the September (August 18th) to fall to fell to the Shanghai (August 18th) fell to the Shanghai Index and the Shenzhen Index.The lowest value of six months and nine months.The Hong Kong Hang Seng Index fell more than 8% this year, ranking among the largest stock indexes in the world.
On the July 24th meeting of the Political Bureau of the Communist Party of China, the meeting proposed that "active capital markets and boosting investor confidence".Listed companies' attractiveness, optimization of trading mechanisms, stimulating market vitality, and supporting the Hong Kong market have proposed many measures.
In terms of reducing transaction costs, the Securities Regulatory Commission proposed to reduce transaction fees.The transaction fee is the fee paid to the transaction by a certain percentage of the transaction amount of the securities company.On the same day, the Beijing Stock Exchange and the Shanghai and Shenzhen Exchange announced the reduction of 50%and 30%.
The Securities and Futures Commission also proposed to study properly extending market transaction time.At present, the Chinese stock market trading time has a total of four hours, while the European and American transactions are 6.5 hours or more.Insufficient transactions will make it difficult for stock prices to reflect market information in a timely manner and weaken market pricing efficiency and competitiveness.
Regarding the reduction of stamp duty in the market, the CSRC responded: From a historical point of view, adjusting the stamp duty can help reduce transaction costs, activate market transactions, and reflect the inclusive effect. "It is recommended to understand from the competent department."Public opinion believes that this shows that the CSRC recognizes the reduction of stamp duty and follows the movement of the Chinese State Council in the future.
As for the T+0 trading system that the market has called for, that is, the mechanism for buying and selling on the same day, the Securities Regulatory Commission said that it is not yet on the implementation of the opportunity.At present, Chinese investors can only sell stocks the next day.
The CSRC also stated that it will further expand the scope of the financing and securities and securities and securities lending bids, increase transaction activity, strengthen supervision of illegal reduction, and encourage listed companies to repurchase stocks to stabilize, boost stock prices, and safeguard shareholders' equity.
Bloomberg information strategist analysis said that new measures can help reduce transaction costs and alleviate market fluctuations to a certain extent, but cannot solve the core issues that lack confidence and economic growth momentum.
Reuters also quoted investors' perspectives that the key to boosting the market is to save the economy, especially the real estate market. At the same time, the government also needs to introduce a real stimulus policy to promote credit expansion.
