Chinese regulators, seeking to arrest a 14 percent slide in the nation’s stock market since this year’s high on March 2, reduced transaction fees on equities trading by 20 percent.
The reduction will take effect Sept. 1 and save investors 600 million yuan ($94 million) in transaction-related fees in the final four months of the year, the China Securities Regulatory Commission said on its website today. Separately, the official Xinhua News Agency said that China is also considering a cut in stamp duty on share trading.
Over the past five years, the Shanghai index has been the worst performer among the world’s 10 biggest stock markets with a 52 percent slide, according to data compiled by Bloomberg. The index dropped 0.6 percent today.