{"id":614,"date":"2023-08-25T19:27:14","date_gmt":"2023-08-25T19:27:14","guid":{"rendered":"https:\/\/ventil.rs\/blog\/world\/china-plans-to-cut-stamp-duty-on-stocks-by-up-to-50-to-revive-confidence-reuters-news-agency\/"},"modified":"2023-08-25T19:27:14","modified_gmt":"2023-08-25T19:27:14","slug":"china-plans-to-cut-stamp-duty-on-stocks-by-up-to-50-to-revive-confidence-reuters-news-agency","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/world\/china-plans-to-cut-stamp-duty-on-stocks-by-up-to-50-to-revive-confidence-reuters-news-agency\/","title":{"rendered":"China plans to cut stamp duty on stocks by up to 50% to revive confidence – Reuters News Agency"},"content":{"rendered":"


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Business & Finance<\/span><\/p>\n

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25 August 2023, 7:27 pm <\/span>1 minute<\/span><\/p>\n<\/div>\n

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China\u2019s blue-chip CSI 300 Index jumped roughly 3% on Monday after the country confirmed a Reuters scoop on slashing stamp duty on stock trading. Reuters exclusively reported<\/a><\/strong> that Chinese authorities were planning to cut stamp duty on stock trading by as much as 50% in a further attempt to revitalize the country\u2019s struggling stock market. The proposed cut comes after China\u2019s leaders vowed in late July to reinvigorate the world\u2019s second-largest stock market, which has been reeling as the country\u2019s economic recovery flags and a debt crisis in the property market deepens. China\u2019s fiscal revenue totalled 20.37 trillion yuan ($3.02 trillion) last year, with 276 billion yuan or 1.35% contributed by stamp duty on securities transactions, official data showed. The finance ministry, in a brief statement on Sunday, said it was reducing the 0.1% duty on stock trades by 50% \u201cin order to invigorate the capital market and boost investor confidence.\u201d\u00a0<\/p>\n<\/p><\/div>\n

Market Impact<\/h3>\n

China\u2019s blue-chip CSI 300 <\/span>Index .CSI<\/span>300 jumped <\/span>roughly 3%<\/span>.<\/span><\/span> The finance ministry, in a brief statement on Sunday, said it was reducing the 0.1% duty on stock trades by 50% \u201cin order to invigorate the capital market and boost investor confidence\u201d.<\/span><\/span>\u00a0<\/span><\/p>\n

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Article Tags<\/p>\n

Topics of Interest: <\/span>Business & Finance<\/span><\/p>\n

Type: <\/span>Reuters Best<\/span><\/p>\n

Sectors: <\/span>Business & Finance<\/span><\/p>\n

Regions: <\/span>Asia<\/span><\/p>\n

Countries: <\/span>China<\/span><\/p>\n

Win Types: <\/span>Exclusivity<\/span><\/p>\n

Story Types: <\/span>Exclusive \/ Scoop<\/span><\/p>\n

Media Types: <\/span>Text<\/span><\/p>\n

Customer Impact: <\/span>Significant National Story<\/span><\/p>\n<\/div><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Business & Finance 25 August 2023, 7:27 pm 1 minute China\u2019s blue-chip CSI 300 Index jumped roughly 3% on Monday after the country confirmed a Reuters scoop on slashing stamp duty on stock trading. Reuters exclusively reported that Chinese authorities were planning to cut stamp duty on stock trading by as much as 50% in…<\/p>\n

Read More “China plans to cut stamp duty on stocks by up to 50% to revive confidence – Reuters News Agency”<\/span> »<\/a><\/p>\n","protected":false},"author":1,"featured_media":615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.reutersagency.com\/wp-content\/uploads\/2023\/09\/Flash_8.28.23_china-stamp-duty.png","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"\nChina plans to cut stamp duty on stocks by up to 50% to revive confidence - Reuters News Agency - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ventil.rs\/blog\/world\/china-plans-to-cut-stamp-duty-on-stocks-by-up-to-50-to-revive-confidence-reuters-news-agency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China plans to cut stamp duty on stocks by up to 50% to revive confidence - Reuters News Agency\" \/>\n<meta property=\"og:description\" content=\"Business & Finance 25 August 2023, 7:27 pm 1 minute China\u2019s blue-chip CSI 300 Index jumped roughly 3% on Monday after the country confirmed a Reuters scoop on slashing stamp duty on stock trading. 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