China plans to cut stamp duty on stock trading by up to 50% to revive sentiment-sources

HONG KONG/BEIJING - Chinese authorities are planning to cut the stamp duty on domestic stock trading by as much as 50 percent, three people with knowledge with the matter said, in a further attempt to revitalize the country's struggling stock market. Chinese regulators including the Ministry of Finance, under the guidance of the State Council, submitted a draft proposal to the cabinet earlier this month, said two of the people, adding a decision could be made and announced as soon as Friday. The proposal to reduce the current 0.1 percent stamp duty on securities trading suggested a cut of either 20 percent or 50 percent, which would be the first such cut since 2008, the two people ...

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