国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

Stock index down 282 points on stamp tax hike

By Li Zengxin (chinadaily.com.cn)
Updated: 2007-05-30 17:20

When the Shanghai Composite Index finished at the historical height of 4,335.96 yesterday, the total market value of the A- and B-shares listed on two exchanges also exceeded that of the main board of the Hong Kong Stock Exchange for the first time in history. And stock account opening exceeded 380,000 on Monday.

But today, all the steam vaporized right away by the hike in stamp tax on securities trading from 0.1 percent to 0.3 percent, announced by the Ministry of Finance late last night and taking effect today.

The tax rise will cover buying and selling of both A and B shares. It will also apply to inheritance and endowments. The government lowered the rate from 0.2 percent to 0.1 percent in January 2005 in an effort to boost the then bearish market.

China has collected more than 100 billion yuan in stamp tax on stock transactions since the early 1990s, when it was first introduced.

According to the central bank's first-quarter monetary policy implementation report issued on May 10, the active trading in the stock market has resulted in rapid growth in stamp tax collection. In the first quarter this year, stamp tax reached 12.2 billion yuan, up 516 percent year on year.

Analysts believe the tax hike implied the country has no other choice but using a "shocking" fiscal policy tool to cool down the market, after a series of tightening monetary measures. However, compared with monetary policies, fiscal instruments usually take effect quicker but lack a lasting effect. The stamp tax hike can't stop the upward trend in China's stock market in the long run.

The China Securities Regulatory Commission is targeting insider trading lately. It has submitted two draft documents defining insider trading and setting rules against it to the Supreme People's Court for judicial assessment.

The new rules may be released very soon.

On the other hand, domestic commercial banks started an investigation campaign to find out capital inflows to the market from loans this week. From this Monday, all banks started self-examination and were expected to report to the authorities in mid June. Focus of the check would be the supervision over current capital loans, individual operational loans, especially large amounts of newly increased floating capital, to prevent such funds from being impropriated into the stock market.


 12

(For more biz stories, please visit Industry Updates)



海宁市| 枣强县| 大悟县| 扶沟县| 青阳县| 新疆| 崇明县| 莫力| 阳江市| 徐汇区| 洛扎县| 杭州市| 墨竹工卡县| 墨脱县| 阜宁县| 榕江县| 方山县| 凭祥市| 门头沟区| 永川市| 密山市| 合山市| 台北县| 浦东新区| 深圳市| 遵义市| 杂多县| 隆化县| 铁岭县| 临沭县| 通山县| 红原县| 水富县| 共和县| 苗栗县| 城步| 隆化县| 昆山市| 淮北市| 余姚市| 固镇县|