China to Raise Stamp Tax
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That’s the stock trading 印花税 in Chinese. It was only a week ago somebody from department of finance denied the “rumor”, now they ate their own words. They raised rate from 0.1% to 0.3% for stock trade.
I don’t know how the market will react to this. Will it blush off like it did on May 21 amid the raise of interest rate? We shall see.
Seriously, I think the goverment could put those money (I mean increased stamp tax revenue) into education, and health care, that will be a wonderful thing. We all want a harmonious society, don’t we?