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SHANGHAI - CHINESE authorities are studying a proposal to cut the stock trading tax, an issue that has emerged at the ongoing annual session of parliament, state media reported Thursday.
'We have paid attention to various proposals in this regard,' Shang Fulin, the chairman of the China Securities Regulatory Commission, was quoted as saying by the China Securities Journal.
Speaking on the sidelines of the National People's Congress, Shang said government departments were studying the issue, but did not elaborate.
In May, the authorities tripled the duty in an effort to curb rampant speculation in the stock market.
China's stock market has fallen sharply since the beginning of this year with the key index dipping to a seven month closing low last Monday as investors fretted about huge new equity supplies and end of lock-up periods for existing shares.
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