Tag: a conclusion

Original title: Halving stamp duty on securities transactions releases a clear and positive policy signal

The Ministry of Finance and State Tax Administration announced on the 27th that, in order to activate the capital market and boost investor confidence, starting from August 28, 2023, the stamp duty on securities transactions will be halved. The stamp duty on securities transactions, which is of concern to all parties, introduces an adjustment What signs are being released behind this?

Industry insiders pointed to the fact that the meeting of the Political Bureau of the Central Committee of the Communist Party of China held on July 24 clearly stated that “the capital market should be active and investor confidence should be promoted”, and the mood of the capital. the market was more positive and the direction was clearer. A reduction in the stamp duty rate on securities transactions this time fully reflects the central government’s firm attitude towards an active capital market and its confidence in looking after the stock market, and has released a clear and positive policy signal.

A reduction in the stamp duty rate for securities transactions boosts the market

The previous reductions in stamp duty rates for securities transactions have boosted the capital market, and this reduction in tax rates has also significantly boosted market sentiment. Finally on the 28th, individual stocks rose more and fell less, and the turnover of the Shanghai and Shenzhen stock markets exceeded 1.1 trillion yuan. The Shanghai Index reported 3098.64 points, up 1.13%; Shenzhen Component Index reported 10233.15 points, up 1.01%; ChiNext Index reported 2060.04 points, up 0.96%.

Data shows that in 2022, my country’s securities transaction stamp tax revenue will reach 275.9 billion yuan. In the first seven months of this year, the stamp duty revenue from securities transactions reached 128 billion yuan. Daixin, director of the Financial Research Office of the Institute of Financial Strategy, Chinese Academy of Social Sciences, said that the signal of this policy is obvious under the current pressure of fiscal revenue and expenditure, that is, the “reduction” of fiscal revenue is exchanged about the “increase” of market vitality. .

Daixin said that judging from the previous adjustments, lowering the stamp duty rate for securities transactions cannot be ignored in activating the financial market, especially the securities market. In view of the current complex economic situation and the new environment for the development of the securities market, the reduction in tax rates will not only significantly reduce transaction costs, but also play a very positive role in building confidence in the securities market .

Reduce market transaction costs and release more liquidity to the market

Halving the stamp duty on securities transactions is an important tax policy tool to reduce the cost of securities transactions and increase securities transaction activity. The reduction in the tax rate is 50%, and the impact of the policy of reducing the tax burden for the majority of investors is direct and inclusive. This will help increase investors’ willingness to trade and release more liquidity into the market.

There are more than 220 million individual investors in my country’s stock market, accounting for 99.76% of the investors in the whole market. Among them, investors who hold less than 100,000 yuan and 100,000 to 500,000 yuan are accounting for 87.87% and 8.12% respectively. Zhao Xijun, co-director of the China Capital Market Research Institute of Renmin University of China, believes that reducing the stamp duty on securities transactions will benefit most small and medium investors through tax reduction and profit sharing policies, and make the orientation of tax inclusion is more fully reflected in the capital market dominated by small and medium investors.

Zhao Xijun said that the adjustment of the stamp duty policy on securities transactions is a very effective benefit for investors and a significant benefit for the securities market. A reduction in the stamp duty rate for securities transactions is conducive to reducing market transaction costs and reducing the burden on investors. It reflects the policy orientation of tax reduction, fee reduction, profit sharing, and benefiting the people. .It will have a significant impact. on stimulating the capital market and improving investor confidence.

The “Three Arrows” of Regulatory Policies Inject More Confidence into the Market

It is worth noting that after announcing the policy of halving the collection of stamp duty on securities transactions, the China Securities Regulatory Commission also released three consecutive policy measures on the evening of the 27th, continuing to send positive policy signals to the market.

In Zhao Xijun’s view, the CSRC’s policy of “shooting three arrows together” is a response to the market’s recent attention focus and appeal. Whether it is “optimizing IPO and refinancing regulatory arrangements”, “further regulating share reduction behavior”, or “reducing the margin ratio of financing by stock exchanges”, it will promote a more virtuous cycle of investment and financing and injecting more confidence into the market.

After the meeting of the Political Bureau of the Central Committee of the Communist Party of China held on July 24 clearly stated that “the capital market must be operated to promote investor confidence”, the regulatory authorities have issued a series of policy measures in succession, including optimizing refinancing interest rates and reducing the reserve settlement ratio, reducing securities transaction handling fees, etc. On August 18, the China Securities Regulatory Commission clearly implemented a package of policy measures for this important decision-making use, responding to market concerns.

“The regulatory authorities’ ‘three arrows’ continue to respond to market concerns about active capital market policies, which will play a key role in stabilizing market confidence. The continuation and intensity of the reforms on investment, financing, and transactions are coming to the top of the capital market is worth looking forward to.” Hu Xiang, chief financial industry analyst at Soochow Securities, said. (Reporters Liu Hui, Shen Cheng, Yao Junfang) Return to Sohu to see more

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Disclaimer: The opinion of this article only represents the author’s own Sohu is an information release platform, and Sohu only provides information storage space services.

Original Title: Stock Market Situation | All the good things are coming out, the A-share market is introducing a “big gift pack” policy Investor confidence is growing and optimistic about the market’s prospects

The public account reprints Shanxi Economic Daily manuscripts and must apply for authorization.

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The benefits are coming out, and the A share market is ushering in a “big gift pack” policy.

The investment advisor reads stock market quotes. Photo by Li Ruonan, an all-media reporter from Shanxi Economic Daily

In order to activate the capital market and boost investor confidence, the Ministry of Finance and State Tax Administration issued an announcement that, starting from August 28, the stamp duty on securities transactions will be halved. On the same day, the China Securities Regulatory Commission also announced a number of policies, namely: gradually tightening the pace of IPOs, restricting shareholders from reducing their holdings, and supporting customers to increase financing leverage. This fully shows that the regulatory authorities have a strong will to activate the capital market.

Su Meng, an investment consultant of the Shanxi Industrial Securities Branch, told reporters that the total securities stamp tax revenue will be 275.9 billion yuan in 2022. If halved, it will be nearly 140 billion yuan, which is a large amount. The implementation of the halving of stamp duty on securities transactions further highlights the importance and great concern of the national policy for the capital market.

According to Su Meng, judging from the history of the past 25 years, almost every adjustment of stamp duty has played a major role in promoting the market trend. Halving the levy will directly reduce investor transaction costs, which will help encourage more people to participate in securities transactions, particularly small investors. Investors’ active access to the market will bring incremental funds, which will help the capital market become operational, improve the efficiency of corporate financing, and provide more financial support to the real economy.

“Halving the securities stamp tax is currently the most direct policy measure to reduce transaction costs. In the medium and long term, it is a very positive direction.” Datong Securities Taiyuan Sales Department investment consultant Zhang Jin said that tax reduction can stamp effectively increase investor interest in the transaction Confidence in the market, together with other policies introduced at the same time, this set of “combined groups” is favorable to gather market sentiment, but it is necessary to observe a later trend still the stock market. . In any case, the “policy bottom” has already appeared, and the “market bottom” will not be too far away.

Li Ruonan, all-media reporter of Shanxi Economic Daily

Investor confidence is soaring and optimistic about the market outlook

“Today, 10 citizens opened an account here. This is also the day I have opened the newest account openings recently. “On August 28, a staff member told reporters at the Datong Securities Sales Department on Jiefang Road, Taiyuan City.

In the Yinhe Securities Sales Department on Xinjian Road, Taiyuan City, Wang Ruigang, a citizen, happily told the reporter with the newly completed account opening procedures: “Today, I officially entered the ranks of investors stock. Since last night, friends in the WeChat group have analyzed, in a series of With the support of favorable policies, the stock market is expected to lead to a wave of progress. So, early in the morning, I hurried to handle the account opening business .”

According to Zhao Jinyuan, an investment consultant from Galaxy Securities Sales Department, the long-awaited “timely rain” has landed. This time, the stamp duty will be halved directly. The stock index rose 1.13% on the that day. a good start and fully reflects the active capital market of the country A firm attitude and confidence and determination to take care of the stock market will be a positive stimulus to the market trend for a long time to come.

“Since last night, the WeChat group of the stock exchange I belong to has been full of news, and the market sentiment that has been quiet for a long time has been stimulated again. It’s all because of yesterday’s good news. The this morning, the market also saved face, and the market opened suddenly. “Shareholder Wu Yu said excitedly.

Former stockholder Liu Bo still remembers the reduction in stamp duty in 2008. The retail trade hall of the sales department of Galaxy Securities Taiyuan Taoyuan Road was full of joy. Everyone stared at the screen and saw that the stocks that from them bright red. Liu Bo told reporters that from years of experience in stock trading, there is a “policy bottom” first and then a “market bottom.” After introducing a series of favorable policies, it will undoubtedly achieve the purpose of activating the capital market and boosting investor confidence.

Yao Fan, all-media reporter of Shanxi Economic Daily

Editor in charge: Zhai Buting Proofreading: Zhang Cuiping Reviewer: Zhen Baoquan

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Disclaimer: The opinion of this article only represents the author’s own Sohu is an information release platform, and Sohu only provides information storage space services.