Photo taken on Nov. 10, 2014 shows an exterior view of Shanghai Stock Exchange (SSE) in Shanghai, east China.(Xinhua/Ding Ting)
BEIJING, April 29 (Xinhua) -- China Securities Depository and Clearing Co., Ltd. (CSDC) announced on Thursday that it decided to cut stock trading transfer fees on Shanghai, Shenzhen and Beijing stock markets from April 29.
According to CSDC, the stock trading transfer fees charged both for sellers and buyers on Shanghai and Shenzhen stock markets will be adjusted down from the 0.02‰ of the turnover to 0.01‰ of turnover, effective from Friday.
For the Beijing Stock Exchange, the stock transaction fee charged both for sellers and buyers will also be trimmed from the past 0.025‰ of turnover to 0.01‰ of turnover from Friday.
China Securities Journal reported on Friday that the reduction in stock trading transfer fees was taken to further invigorate the capital market via lowering trading costs for investors and better boost the real economy.
Many market players told the newspaper that apart from saving trading costs for investors, the move was deemed to be a positive policy signal for the stock market.
Yang Delong, chief economist with the First Seafront Fund said that the measure reflected the caring attitude of the policy makers and the recently frequent advent of policy boosts was good for market confidence to recover.
For investors, the most important thing is to maintain optimistic mood and adhere to long-term value-based investment by seizing opportunities from sectors that will benefit most from the economic structural transformation, according to Yang.
Tian Lihui, dean of the Nankai University Institute of Finance and Development, thought that axing the stock trading costs could largely improve market liquidity and it was easier for the market to step out of the bottom when market liquidity remained sufficient. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
