Lower fees for share purchases?
By Richard Fu |
April 28, 2012, Saturday
|
Print Edition
Print Edition
CHINA is studying and reviewing a proposal to lower fees and costs for stock trading, the China Securities Regulatory Commission said yesterday, without elaborating.
China last adjusted charges on stock trading in September 2008, when the Ministry of Finance eliminated a 0.1 percent stamp tax on the purchase of shares.
The CSRC also announced a move to cut trading commissions for all futures products by 30 percent on average, effective June 1, in a bid to boost trade and enhance market confidence.
The reduction is between 12.5 percent and 50 percent for contracts, ranging from copper to sugar to stock index futures, traded on China's four futures bourses - the Shanghai Futures Exchange, the Zhengzhou Commodity Exchange, the Dalian Commodity Exchange and the China Financial Futures Exchange.
China last adjusted charges on stock trading in September 2008, when the Ministry of Finance eliminated a 0.1 percent stamp tax on the purchase of shares.
The CSRC also announced a move to cut trading commissions for all futures products by 30 percent on average, effective June 1, in a bid to boost trade and enhance market confidence.
The reduction is between 12.5 percent and 50 percent for contracts, ranging from copper to sugar to stock index futures, traded on China's four futures bourses - the Shanghai Futures Exchange, the Zhengzhou Commodity Exchange, the Dalian Commodity Exchange and the China Financial Futures Exchange.
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