China halves stamp duty on stock trades to boost flagging market

BEIJING (Reuters) – China halved the stamp duty on stock trading effective Monday in the latest attempt to boost the struggling market as a recovery sputters in the world’s second-biggest economy.

The finance ministry said in a brief statement on Sunday it was reducing the 0.1% duty on stock trades “in order to invigorate the capital market and boost investor confidence”.

Reuters reported on Friday that the authorities were planning to cut the duty by up to half after a key share index fell to…

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