The Ministry of Finance has halved the stamp duty on stock trading effective from today.
财政部已将证券交易印花税减半征收,自今日起生效。
It said the decision was to invigorate the capital market and boost investor confidence.
该部门表示,这一决定是为了活跃资本市场,提振投资者信心。
The China Securities Regulatory Commission earlier also rolled out measures to shore up market confidence.
中国证券监督管理委员会早些时候也推出了提振市场信心的措施。
The agency said China will slow the pace of initial public offerings and further regulate major shareholders' share reductions.
证监会称,中国将放缓首次公开发行(IPO)的节奏,并进一步规范大股东减持的行为。
Meanwhile, the government body lowered the margin financing requirements for investors to purchase securities to 80 percrent from the previous 100 percrent.
与此同时,该政府机构将投资者买入证券时的融资保证金比例从之前的100%降低到80%。
The adjustment will take effect after the market closes on September 8.
这一调整将在9月8日收市后实施。
China's stock rallied during the Monday morning trading session after authorities announced a cut in stamp duty to boost the market.
在有关部门宣布下调印花税以提振市场后,中国股市在周一早盘交易中反弹。
Both the Shanghai Composite and the Shenzhen Component gained over 2.3 percrent.
上证综指、深证成指的涨幅均超过2.3%。
China's blue-chip CSI 300 also jumped as much as 3 percrent in the early morning trading.
中国蓝筹股沪深300指数也在早盘交易中上涨近3%。
Shares jumped across the board, led by securities brokers as well as the real estate, insurance and new energy sectors.
在证券经纪、房地产、保险和新能源板块的带动下,中国股市全线上涨。
Analysts say the stamp duty cut could have a stronger and more direct effect on shoring up investor confidence compared to previous supportive policies.
分析人士称,相对于之前的支持性政策,下调印花税可能对提振投资者信心产生更强、更直接的影响。