China’s Ministry of Finance said on Sunday the government will halve the stamp tax levied on securities trading starting Monday.
- Also, to give a small lift to margin trading, the China Securities Regulatory Commission (CSRC) said an investor will be required to deposit at least 80% of the amount borrowed with their, down from 100% previously, This begins with the close of trading on Sept 8.
In a related matter, the China Securities Regulatory Commission’s stated shortly after that the pace of IPOs will be slowed temporarily while ex-ante communication about listed companies’ large-scale refinancing plans will be strengthened.
