The myth that Kweichow Moutai, the benchmark of bull market, is overvalued will eventually be shattered with the arrival of bear market. ...
Shenzhen first levied stamp duty on securities transactions on 1990. At that time, it was mainly to stabilize the start-up stock market and moderately adjust the income of stock trading, and the seller paid 6‰ of the transaction amount. In June of the same year 165438+ 10, Shenzhen also levied a stamp duty of 6‰ on stock buyers, and the mainland began the history of bilateral stamp duty collection.
199 1 June, Shenzhen adjusted the stamp duty rate from 6‰ to 3‰, and the bull market started. After that, the Shanghai Composite Index rose from 180 to 1429 in May of 0992, an increase of 694%.
1June 992 12, State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) and the former state commission for restructuring the economy jointly issued a document stipulating that the stamp duty rate should be 3‰. After a month of consolidation, the index turned around from 1 100 to more than 300, a drop of more than 70%. After four months of consolidation, Shenzhen stock market rose from 25 17 to 1538. From1October 23rd, 2002 to February 22nd, 2003, Shenzhen stock market rose from 1538 to 3422, with an increase of over 220%.
From the beginning of 1996 to1May 1997, the stamp duty was still 3‰, and the Shenzhen stock market showed a big bull market, with the index increasing by more than 660%.
1May, 997 12, the stamp duty rate on securities transactions increased from 3‰ to 5‰, and the Shanghai Composite Index fell by nearly 500 points in half a year, with a drop of more than 30%.
1June, 1998, the stamp duty rate of securities transactions was reduced from 5‰ to 4‰, and the stock index fell instead of rising, fluctuating by 400 points within two months.
1 June, 9991In order to enliven the B-share market, State Taxation Administration of The People's Republic of China once again reduced the B-share transaction tax rate to 3‰, and the B-share index of Shanghai Stock Exchange rose from 38 points to 62.5 points within one month, an increase of more than 50%.
200 1,1,65438+6000, the stamp duty rate was lowered to 2‰ again, and the stock market produced another wave of 100 points in the downstream band.
On June 23, 2005, the Ministry of Finance adjusted the stamp duty rate of securities transactions from 2‰ to 1‰, and the stock market rose slightly and then fluctuated downwards. From April 2000 to the end of 2005, the stock market basically showed a bear market.
On October 23, 2005/kloc-0, the Ministry of Finance decided to adjust the stamp duty rate of securities (stocks) transactions from the current two thousandths to one thousandth from October 24, 2005.
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