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China May Cut Stamp Duties on Stock Trading: Securities Times

CHINA PRESS
MNI (Sydney)

Stamp duties on trading stocks in China may be cut or removed after the State Council took over jurisdiction from the Ministry of Finance, the Securities Times reported citing speculation by market participants. The rate of stamp tax, a tool to control the volume of trading, was adjusted twice in 2008 to the current 1%, the Times said. A senior policy advisor Huang Qifan, who is the former city mayor of Chongqing, advocated in 2018 to cancel the tax, according to the newspaper report.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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