China to halve stamp duty on securities trading to boost capital market
2023-08-28 09:23:00 source：CGTN
August 27, 2023
China will cut its stamp duty on securities trading by half starting on August 28 in an attempt to activate the capital market and boost investor confidence, China's Finance Ministry and State Taxation Administration said on Sunday.
The cut is the country's first such reduction since 2008 when the Chinese authorities reduced the rate of the stamp duty from 3 per thousand to 1 per thousand.
"Cutting half of stamp duty on securities trading is one of the most important measures to boost investors' confidence," said Zhao Xijun, a professor at the School of Finance at Renmin University of China.
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