Chen Maobo, director of the Hong Kong Financial Secretary, believes that lowering the stamp duty of stock transactions is not enough to be structural and long -term stimulation of the stock market.The key to improving the performance of the stock market is that investors are expected to be better in the market outlook.

Chen Maobo said frankly on the blog that Hong Kong stocks have undergone a lot of pressure in the past period of time, and the Hang Seng Index has accumulated more than 8%in August.There are sound requirements to reduce the stamp duty of stock transactions.

However, Chen Maobo said: "Objective data shows repeatedly, reducing the stamp duty of stock transactions is not enough to be structural and long -term stimulation of the stock market."

He also said: "ForIn the Hong Kong stock market, we need to comprehensively review the various factors affecting the market, find out the crux of the problem, and apply the right medicine with a comprehensive and comprehensive plan. Otherwise, the scattered stimulus measures will not help boost the market conditions, but also due to incomparable results due to incomparable results.And further weaken investor confidence, and the effect is counterproductive. "

To improve the performance of the stock market, Chen Maobo believes that the key is that investors are expected to be better in the market outlook., Company performance, whether there is potential to be listed on the market.These are not the effect that can simply reduce the stamp duty of stock transactions.

Chen Maobo also gives an example to show that the stamp rate of stock transactions cannot fundamentally boost the stock market.Taking the experience from 1999 to 2001 as an example, the stamp duty was reduced by three degrees during the period, but the average daily turnover dropped from about HK $ 14.3 billion (S $ 2.4 billion) in 1997 to HK $ 6 billion in 2002.The stamp duty of stock transactions was adjusted in the first few months (August to December) after the young micro was adjusted to 0.13%in 2021. The average daily transaction of Hong Kong stocks was still 2%more than in 2020.

He believes that the stock market rising or falling is also controlled by geopolitical and market emotions, and refers to the misunderstanding caused by Western political prejudices, and also interfere with investors' confidence in Hong Kong and mainland China stock markets."It is true that the global economic recovery is weak, and the development of each region will face different challenges, but the one -way pessimistic argument of the Mainland economy in the Mainland economy is obviously disconnected from reality if it is not attentive."

Chen Maobo also said that during the three -year epidemic period, many overseas investors and institutional representatives failed to go to Hong Kong in person. "In addition to many biased reports of Western media, they have more biased their understanding and facts of Hong Kong."

Chen Maobo announced that Hong Kong will increase its efforts and actively promote the advantages of Hong Kong."In the next few months, I will visit Europe and the United States and other places to explain the new opportunities and new potentials of the development of 'one country, two systems'' for the development of Hong Kong.The third generation of the Internet, etc. "

He also introduced that the promotion of the stock market liquidity dedicated group not long ago will comprehensively examine different internal and external factors, such as the listing system, market structure, trading mechanism, and researchHow to expand the sources and traffic of the market, attract more high -quality enterprises to go public in Hong Kong, activate product innovation and diversification, and improve the price discovery mechanism and transaction efficiency.