Hong Kong to lower stamp duty on stock transfer

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Hong Kong to lower stamp duty on stock transfer

STORY: Hong Kong to lower stamp duty on stock transfer DATELINE: Oct. 26, 2023 LENGTH: 00:01:24 LOCATION: HONG KONG, China CATEGORY: ECONOMY SHOTLIST: 1. various of speech scene 2. various of Hong Kong-related footage STORYLINE: China's Hong Kong Special Administrative Region (HKSAR) will reduce stamp duty on stock transfer as part of efforts to bolster the stock market, HKSAR Chief Executive John Lee said Wednesday. The stamp duty will be cut from the current 0.13 percent to 0.1 percent of the consideration or value of each transaction payable by buyers and sellers, respectively, he said. The target is to complete legislative procedures by the end of November, he added. He also proposed other measures to strengthen the competitiveness of the stock market, including reducing market data fees and exploring cutting trading spreads. The HKSAR is also planning to reform the growth enterprise market, Lee said, adding that the Hong Kong Exchanges and Clearing Limited (HKEX) has proposed to streamlin

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