In order to further promote the healthy development of the securities market, with the approval of the State Council, the Ministry of Finance decided to adjust the stamp duty rate of securities (stocks) transactions from the current 1‰ to 3‰ from May 30, 2007. That is to say, the parties concerned shall pay stamp duty on securities (stocks) transactions at the rate of 3‰ respectively for the A-share and B-share equity transfer documents signed by the transaction, inheritance and donation office.

The policy regulates the stock market with obvious intentions.

Cheng, a strategist at CITIC Securities (57.60, -6.40,-10.00%), believes that 1992 set the stamp duty for the first time. Before this stamp duty increase, the stamp duty rate was raised twice in history, and the Shanghai and Shenzhen indexes were adjusted downwards after each increase. From this point of view, the stamp duty rate is now raised. In view of the asset price bubble, the intention of policy regulation is more obvious, warning risks.

Stamp duty review

Market trend after stamp duty adjustment

1June 992 12, State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) and the former state commission for restructuring the economy jointly issued a document stipulating that the stamp duty rate should be 3‰. Although the index reaction was not fierce that day, after a month of consolidation, it turned around and fell from 1 100 to more than 300, a drop of more than 70%.

1997 may 12, the stamp duty rate of securities transactions increased from 3‰ to 5‰, which was the peak of the big bull market. Since then, the stock index has fallen by 500 points, a drop of more than 30%.

It is worth recalling that, correspondingly, every reduction of stamp duty is accompanied by the band of the broader market.

199 1 1 In order to stimulate the depressed stock market, Shenzhen adjusted the stamp duty rate to 3‰. This is where the big bull market started. Half a year later, the Shanghai Composite Index soared from 180 to 1429 in May 1992, with an increase of 694%.

1 June, 9991In order to enliven the B-share market, State Taxation Administration of The People's Republic of China once again reduced the B-share transaction tax rate to 3‰, and the B-share index of Shanghai Stock Exchange rose from 38 points to 62.5 points within one month, an increase of more than 50%. B shares have now entered a bull market.

200 1, 1 1, the stamp duty rate was lowered to 2‰ again, and the stock market produced a wave of 100 points. NBD

I have not paid attention to the stocks of Sichuan Luqiao.