China Plans To Cut Stamp Duty On Stock Trading By Up To 50 (RTRS Sources)

The latest RTRS sources piece suggests that “Chinese authorities are planning to cut the stamp duty on domestic stock trading by as much as 50%, in a further attempt to revitalise the country's struggling stock market.”

• This would be the latest equity supportive move from Chinese policymakers as they try and ward off market forces that look to the headwinds facing the Chinese economy.
• The report says that policymakers proposed a reduction in “the current 0.1% stamp duty on securities trading suggested a cut of either 20% or 50%, which would be the first such cut since 2008”…”The quantum of the cut, which has not been reported before, is likely to be set at 50%.”