BEIJING, Aug 27 — China halved the stamp duty on stock trading effective tomorrow in the latest attempt to boost the struggling market as a recovery sputters in the world's second-biggest economy.
"Such a policy will likely give a short-term boost to the market but won't have much effect over the long run," Xie Chen, a fund manager at Shanghai Jianwen Investment Management Co, said before the announcement."The rebound could last for just two to three days, or even shorter." Meanwhile, stock exchanges in China have lowered their margin financing requirements, according to the CSRC's announcement.
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