China will minimize the sealing of the seal of the seal of the seal of the stamp duty from Monday (August 28).
The Ministry of Finance and the State Administration of Taxation explained in the announcement issued by the Ministry of Finance's official website on Sunday (27th) that the implementation of the stamp duty of securities transactions was reduced by half. The purpose was to activate the capital market and boost investor confidence.
Reuters last Friday (25th) quoted people familiar with the matter that Chinese official plans to reduce the stamp duty of the stock transaction up to 50%to revive the sluggish China stock market.
The report also quoted the analysis of Xie Chen, the fund manager of a Shanghai investment management company, stated that the above measures can boost the market in the short term, but in the long runIt will only last two or three days, or even shorter.
