Dali is coming!
On April 28, CSDCC issued a notice that from April 29, 2022, the stock transaction transfer fee will be reduced by 50%, that is, the stock transaction transfer fee will be charged from the current Shanghai and Shenzhen market A-Shares according to the transaction amount of 0.02 ‰, Beijing market A-Shares and listed company shares according to the transaction amount of 0.025 ‰, and will be uniformly reduced to 0.01 ‰. This is to thoroughly implement the spirit of the special meeting of the financial commission of the State Council, promote the stable and healthy operation of the capital market, further stimulate market vitality by reducing investor costs and increase support for the real economy.
An investment banker from a securities firm said that the reduction of the stock transaction transfer fee shows the firm attitude of the regulators to protect the stock market and encourage trading. At present, the fluctuation of the market decline is mainly affected by the expectations and emotions of investors. What the market lacks most is confidence. This policy can be described as the right remedy to the case. Reducing the transaction transfer fee is a good medicine, focusing on the return of confidence and the return of the market to rationality.
stock transaction transfer fee reduced by 50% overall
From April 29, 2022, the transfer fee of stock trading will be reduced by 50%, that is, the transfer fee of stock trading will be collected from the current A-shares in Shanghai and Shenzhen market according to the transaction amount of 0.02 ‰, and the A-shares in Beijing market and the shares of listed companies according to the transaction amount of 0.025 ‰, which will be uniformly reduced to 0.01 ‰ of the transaction amount.
Yang Delong, chief economist of Qianhai open source fund, believes that the reduction of stock transaction transfer fee reflects the management’s caring attitude towards the capital market. Recently, there have been frequent favorable policies, from promotion fees, infrastructure construction and standard reduction to the reduction of stock transaction transfer fees, which releases the management’s caring attitude towards the capital market, which is conducive to the recovery of market confidence and promote the rebound of the market. It is very important to maintain a good attitude at the bottom of the market, adhere to value investment and grasp the most beneficial direction of economic transformation. After surviving the epidemic and the downturn in the stock market, everything will be fine. Cherish the opportunity to build good stocks and funds under 3000. In the long run, value investment will only lose time, not money.
The last time the transaction fee of stock transfer was reduced was on July 9, 2015. The Shanghai Stock Exchange charged the investors of the buyer and the seller respectively according to the transaction face value of 0.3 ‰ and the Shenzhen Stock Exchange charged the investors of the buyer and the seller according to the transaction amount of 0.0255 ‰, which was uniformly adjusted to charge the investors of the buyer and the seller respectively according to the transaction amount of 0.02 ‰. On the day after the good news release, the Shanghai stock index rose 4.54%. 16 stocks including Northeast Securities Co.Ltd(000686) , Sealand Securities Co.Ltd(000750) , China stock market news, Guotai Junan Securities Co.Ltd(601211) and other stocks in the securities sector gained the daily limit, and Haitong Securities Company Limited(600837) , Citic Securities Company Limited(600030) , with the lowest increase, also gained more than 7% on the same day.
China Clearing launched a series of measures to promote the smooth operation of the market
Recently, China Clearing has taken a series of measures to reduce the cost of various market participants, improve the efficiency of capital use and directly benefit the market. In early April, CSDCC reduced the payment proportion of the minimum settlement provision for stock business from 18% to 16%, reducing transaction settlement costs and improving market efficiency on the basis of ensuring the security of the settlement system. At the same time, the reform of DVP is advancing actively and steadily. The reform plan has been fully demonstrated and fully solicited the opinions of the market, which has been unanimously affirmed by the market institutions. Reducing the payment proportion of the minimum settlement reserve is also in line with the reform of DVP and releasing some reform dividends in advance. After the implementation of the reform, the ability of risk prevention and control in the capital market will be further improved.
In recent years, China Clearing has successively issued a number of fee reduction measures to continuously reduce market costs and support the economic recovery and development of areas greatly affected by the epidemic, which fully reflects the supporting role of China Clearing as a financial infrastructure.
stabilizing market forces and showing positive factors
the fee reduction measure of China’s settlement is one of a series of steady growth policies. The recent steady growth has made concerted efforts, releasing a positive signal of stabilizing the market and boosting investor confidence
From April 26, the central financial and Economic Commission held its 11th meeting to study the issue of comprehensively strengthening infrastructure construction, and made it clear that it should be moderately ahead of schedule to lay out the infrastructure conducive to leading industrial development and safeguarding national security. At the same time, it should grasp the degree of ahead of schedule construction and lay out five key points, including network infrastructure construction such as transportation, energy and water conservancy; Upgrading of information, science and technology, logistics and other industries and infrastructure construction; Urban infrastructure construction; Agricultural and rural infrastructure construction; National security infrastructure construction. The CSRC will issue a notice on the high-quality development of the public fund industry, guide investors to pay attention to long-term investment performance, value investment and rational investment, and improve the proportion of medium and long-term funds. All of the above reveal the ardent hope of the regulatory authorities to promote the high-quality development of the capital market and the urgent requirements to further improve the resilience of the capital market.
Positive factors contributing to the smooth operation of the capital market are also gathering. As of April 27, 2022, according to data, 3528 of the 4799 listed companies in the north of Shanghai and Shenzhen have issued annual reports, accounting for 73.52% of the total number of listed companies. The total revenue of 3528 listed companies increased steadily, and the overall performance was good. The total operating revenue was 57.06 trillion yuan, a year-on-year increase of 20.82%; The total net profit was 4.94 trillion, a year-on-year increase of 22.37%. From the perspective of annual report, the growth rate of nonferrous metals, mining and transportation services, transportation and other industries increased significantly, and the growth rate of nonferrous metals, mining and transportation services, transportation and other industries increased significantly. Among the 3528 listed companies that have published their annual reports, 2760 have dividend plans, accounting for 78.23%. Large dividends are mostly “white horse” companies with higher total market value, total revenue and net profit, which is also an important reason why such companies are more likely to be favored by institutional investors.
At the same time, Sinopharm China biology and Kexing holding Biotechnology Co., Ltd. obtained the clinical approval of the State Food and Drug Administration for the inactivated vaccine of Omicron mutant covid-19 virus, and made new progress in epidemic prevention and control.
The reform of the capital market is also deepening. The deep reform of the capital market led by the reform of the whole market registration system will be solidly promoted. A new round of independent opening-up and pragmatic measures will be accelerated. The “two unwavering” principle will be more deeply reflected in the process of supporting the financing of private enterprises, and more forces will be gathered to stabilize the market and expectations.
“The aggregation of a series of positive factors highlights the investment value of the A-share market.” China International Capital Corporation Limited(601995) chief strategist and managing director Wang Hanfeng said that the sentiment index “bottoms out”, the steady growth direction has relative returns, and the market has a midline value. When the “steady growth” encounters “supply shock”, the overall market valuation has been reduced to a level similar to the historical bottom. The cumulative correction time of the market is long and the range is large, the valuation is relatively low, and the market is in the “bottoming out period” in the short term, The midline already has value.
“From a medium-term perspective, China needs more space, strong resilience and relatively sufficient policy space. Although the short-term market is more likely to be driven by sentiment and uncertain, it is not appropriate to be overly pessimistic about the medium-term prospect.” Wang Hanfeng said.
