Trader Xiao Rao plans to use the saved money to pay off the mortgage and halve the stamp duty
On the noon of August 28, 2023, the cafeteria downstairs of a securities company's business department in Pudong was empty. "I don't have time to go to the cafeteria for meals. I can't even answer the customer's phone," said trader Xiao Rao downstairs, rushing to find takeout.
According to the announcement of the Ministry of Finance and the State Administration of Taxation, starting from August 28, 2023, the stamp duty on securities trading will be halved, aiming to activate the capital market and boost investor confidence.
![Trader Xiao Rao plans to use the saved money to pay off the mortgage and halve the stamp duty](https://a5qu.com/upload/images/eee957235c5f96607fa2234da836c6e7.jpg)
The cafeteria of the securities firm is empty and devoid of the usual hustle and bustle.
During lunchtime, the takeout counter downstairs of the exchange was filled with takeout.
![Trader Xiao Rao plans to use the saved money to pay off the mortgage and halve the stamp duty](https://a5qu.com/upload/images/89c0cda31cfceb364bbed667d2ef632b.jpg)
Xiao Rao, who takes out food.
Today's stock market is exceptionally active, with Xiaorao's phone constantly on. He has no time to go to the cafeteria and can only take out food during his smoking break.
![Trader Xiao Rao plans to use the saved money to pay off the mortgage and halve the stamp duty](https://a5qu.com/upload/images/643fb71948a4f6efe59f66d57171e03a.jpg)
Xiao Rao, who came to pick up takeout during his smoking break, never stopped his customer's phone call and his smile on his face.
The halving of stamp duty benefits both traders like him and ordinary investors. The customer's trading enthusiasm was stimulated, and he was too busy to charge his phone twice in the morning, which was not enough.
![Trader Xiao Rao plans to use the saved money to pay off the mortgage and halve the stamp duty](https://a5qu.com/upload/images/aa3f451829f3f79b13cf52ca22c5884a.jpg)
Xiao Rao, born in the 1990s, has been acting as an agent for stock trading for nearly a decade. This is the first time he has encountered a reduction in stamp duty since entering the market. For agents like them, it means that every transaction can save a lot of money.
Today's customer has also been active for a long time. Xiao Rao only answered the phone this morning and ran out of battery twice.
![Trader Xiao Rao plans to use the saved money to pay off the mortgage and halve the stamp duty](https://a5qu.com/upload/images/80f28cc36801adb0ff92b30dd5d8b989.jpg)
"The money saved is almost enough to pay off the mortgage in installments," said Xiao Rao, who lives in Lujiazui and wants to be closer to the forefront of finance. However, the stock market has not been good in the past two years, and a colleague left last week. Xiao Rao's business has been running for almost two months, and even the rent is a bit worried.
Xiao Rao represents more than 30 clients with over 5 million yuan in funds. Based on the current transaction volume, this tax reduction can at least save him over 5000 yuan per month. "In fact, the increase today is not too much, but it has given the market a lot of confidence. After all, this is a direct benefit for investors. If investors have money to make, our lives will naturally be better."
![Trader Xiao Rao plans to use the saved money to pay off the mortgage and halve the stamp duty](https://a5qu.com/upload/images/bfc228acda8d9bd7482795abfce4c827.gif)
According to trading trends, the three major A-share indexes collectively opened significantly higher on August 28th, with the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index opening 5.06%, 5.77%, and 6.96% higher respectively. However, after a volatile decline, as of the close, the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index closed up 1.13%, 1.01%, and 0.96%, respectively.
The transaction volume of the Shanghai and Shenzhen stock markets has exceeded one trillion yuan, with a total transaction volume of 1.13 trillion yuan.
![Trader Xiao Rao plans to use the saved money to pay off the mortgage and halve the stamp duty](https://a5qu.com/upload/images/8321f54e98238c2f4be05c2c0b34709c.jpg)