China is reported to reduce the stamp duty of stock transactions to boost the stock ma

People familiar with the matter revealed that the Chinese government plans to reduce the stamp duty of the stock transaction up to 50%to re -revive the Chinese stock market.

According to Reuters on Friday (August 25), three people familiar with the matter reported that the Chinese Ministry of Finance and other regulatory departments were drafted earlier this month and drafted a recommendation report on the stamp duty according to the instructions of the State Council.

This report said that the stamp duty of securities transactions will be reduced by 20%or even 50%from the current 0.1%.If this measure is implemented, this will be the first time that the Chinese government has lowered stamp duty since the financial crisis in 2008.

People familiar with the matter said that the printed tax duty is very likely to be reduced by 50%.However, the time point and amplitude of the specific down -reduction have not been determined.

The stamp duty is a tax item set up by the government for stock transactions, and it is a tool for regulating officials to regulate the stock market.Dimension stamp duty can reduce the cost of stock transaction and stimulate the stock market.

But Xie Chen, the fund manager of a Shanghai investment management company, believes that the above policy can boost the market in the short term, but in the long run, there will be no effect.Two or three days, even shorter.He believes that only the expectations of economic optimism can reverse the long -term trend of the Chinese stock market instead of the printed duty.

Since the second quarter of this year, China officially announced that a series of macroeconomic data is not optimistic, consumption, import and export, corporate manufacturing, etc. have declined, and the weak domestic demand has led corporate income as expected.In addition, the government's mild economic stimulus policy is not enough to restore investors' confidence. Foreign capital is accelerating the selling of Chinese stocks, leading to a sluggish A shares in China.

The China Blue Chip's CSI 300 Index has fallen to the lowest point in the nine months, which has fallen 11 percentage points compared with the peak in April.

In order to stabilize the confidence of the outside world, the China Securities Regulatory Commission held a symposium on institutional investors on Thursday (24th) to propose to create a good investment environment and guide medium and long -term funds to enter the market.The China Securities Regulatory Commission also met with representatives of the top Western asset management company on Friday to ensure China's economic prospects.