Tonight I see two policies: one is that from May 1 day, 2022 to March 3 1 day, China will implement a provisional tax rate of zero import of coal; The other is the announcement issued by China Clearing. From April 29th, the overall stock trading in transfer fees will be lowered by 50%.
Are these two policies good or bad?
First, it is a good thing to implement a tentative zero tax rate for coal imports! The network excerpt is as follows: Is this good or bad? Some people say it's bad, but it's actually good. Because: 1. Generally speaking, zero provisional import tax rate means zero tariff, which stimulates the increase of imports and is conducive to curbing domestic coal prices. If the coal price falls, it will be unfavorable to domestic coal production. However, for some time, due to the control of the national development and reform commission on domestic coal prices, domestic coal prices have been upside down at home and abroad, and domestic coal prices are far lower than foreign coal prices. Increasing zero tariff to stimulate imports can not cause coal prices to fall, but only reduce the pressure of rising coal prices and will not affect the profits of domestic coal production enterprises. 2. At the same time, due to the impact of the Russian-Ukrainian war on energy, China and India have increased their coal purchases at the same time, and the international coal price war has become more intense, which may further promote the rise of coal prices, but it will be beneficial.
Second, there was a sudden positive, and the stock trading in transfer fees was lowered! How is it different from reducing stamp duty?
(1) from comments on April 28th, 2022:
Tonight is good. Starting from tomorrow, the stock transfer fees will be lowered by 50%, from two ten thousandths to one ten thousandth. Although it can't be compared with reducing stamp duty, it is still a tangible benefit. Generally speaking, it feels more beneficial to brokers. The plate that has fallen so badly recently may rebound to some extent tomorrow.
Generally speaking, there are three kinds of stock transaction fees, one is the stock transfer transaction fee, the other is the commission, and the third is the stamp duty. From the perspective of this distinction, stamp duty is most directly related to investors in the whole market. No matter whether it is an institution or a retail investor, stamp duty will be generated as long as there is a transaction, and the tax rate is one thousandth. I think it should be difficult to reduce stamp duty. After all, like 20 15, the current market does not use this tool, which is far less pessimistic than 20 15, so there is no need to expect too much.
The other two stocks, transfer fees and Commission, are probably familiar to most people. Commission is the fee charged by the brokerage institution that holds the transaction, which is mainly charged at the time of stock trading, with the minimum 5 yuan per transaction. Different brokers may have different commission rates. In recent years, different brokers have a downward trend in order to compete for market share. But no matter how it falls, the impact on the whole market is very small. The main business is to contribute to brokers as profits, and the general rate is much lower than one thousandth of the stamp duty. Different brokers give different commission rates to investors, and there is no direct regulation.
Simply put, after buying and selling stocks, the fees generated by the transfer of ownership relations are generally collected by the registration and settlement institutions. The expense rate is quite low. In the past, the fee rate stipulated by CSI was one in ten thousand, but now it has been reduced by 50%, which is one in ten thousand. The news that came out this time is specifically good for brokers. Because transfer fees is actually paid by the brokerage firm, it is income from the certificate and expense from the brokerage firm. This reduction actually means that the brokerage fees will be reduced and the subsequent performance will be better. Therefore, it will benefit the brokerage sector.
Lowering transfer fees is a good thing for the brokerage sector that has fallen recently. If the brokerage sector continues to fall, then the index will be unstable. This positive can't be said to be a great positive, but from the meaning behind it, we can see that the top management cares about the market. This is basically the bottom area, don't be too pessimistic!
(II) Excerpted from 2015.07.0/Online comments are as follows: The direct impact of the transaction tax reduction on the stock market is the reduction of stock transaction costs, which is positive.
However, if the root cause of this slump is not solved, the reaction of the stock market may only be a pulse rebound. In other words, during the plunge, the market's response to favorable policies is lagging behind, and the bottom of the market is often three to six months behind favorable policies.
Today's information
The market performance showed obvious differentiation in the shock, and the Shanghai Composite Index was reorganized and closed slightly higher in the late session. Growth enterprise market index was weak, with an intraday decline of more than 2%. The turnover of the two cities is less than 900 billion yuan. At the close, the Shanghai Composite Index rose 0.58% to 2,975.48 points. Growth enterprise market index fell 1.83%. Shenzhen Component Index fell 0.23%.
In terms of industries, the coal industry performed brilliantly, with an increase of more than 5%. Real estate, banking, construction, food and beverage industries were among the top gainers, while agriculture, forestry, animal husbandry and fishery industries performed weakly, with a drop of nearly 3%. Computer, media, light industry, non-bank finance, environmental protection and other industries fluctuated and adjusted, with the largest decline. In the concept sector, coal mining, lithium mine, rare metals, liquor and other sectors were slightly active, and the large-scale infrastructure central enterprises sector rose in the afternoon. The logistics sector rose sharply in early trading, but then fluctuated and fell back. COVID-19 testing, digital currency, biological breeding, online education and other sectors are weak and volatile.
It seems that the feeling of the market is that there is a high probability that the Shanghai Composite Index will rise tomorrow.