Chinese regulators, seeking to arrest a 14 percent slide in thenation's stock market since this year's high on March 2, reducedtransaction fees on equities trading by 20 percent.
The reduction will take effect Sept. 1 and save investors 600million yuan ($94 million) in transaction-related fees in the finalfour months of the year, the China Securities Regulatory Commissionsaid on its website today. Separately, the official Xinhua NewsAgency said that China is also considering a cut in stamp duty onshare trading.
The reduction follows a July 31 announcement by the CommunistParty's Politburo that pledged to continue adjusting policies toensure stable economic growth. The Securities Times said in afront-page commentary the same day that the government shouldintroduce measures to stabilize the stock market and boost investorconfidence.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
