China plans to cut stamp duty on stock trading by as much as 50% to boost stock market – report

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Chinese authorities are planning to cut the stamp duty on stock trading by as much as 50% to revitalize the stock market, reported Reuters citing people with knowledge with the matter.

Regulators including the Ministry of Finance, under the guidance of the State Council, submitted a draft proposal to the cabinet earlier this month, the report said.

The proposal to cut the 0.1% stamp duty on securities trading suggested a cut of either 20% or 50%, which would be the first such reduction since 2008, the report said.