China Cuts Stock Trade Tax, Tightens IPOs to Boost Market
(Bloomberg) — China lowered the stamp duty on stock trades for the first time since 2008 and pledged to slow the pace of initial public offerings, among a slew of new measures to woo investors back to its flagging equities market.
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The levy charged on stock trades will drop from 0.1% to 0.05% as of Aug. 28, the Ministry of Finance said in a statement Sunday, in a move to “invigorate capital markets and boost investor confidence.”
The China Securities Regulatory…