China dismisses rumours of capital gains tax on stocks

A media blitz aimed at quelling fears that the
Beijing government planned to
implement a capital gains tax on stocks has led to an improved performance on
the stock market.

The government’s campaign to end all rumours about the tax helped the
Shanghai Composite
closed 3% up at 3,890.8.

The number of new share accounts being opened in China’s frenetic stock
market fell sharply last week after the tax on share purchases was increased to

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