Beijing drafts dividend tax to boost market

Beijing's securities watchdog is set to unveil a new dividend policy scheme to support the lacklustre market as part of the government's campaign to end the losing streak of equities.

The move is the latest in a series of measures by Beijing in recent weeks to rejuvenate the world's second-biggest economy by trying to ensure that financing activity in the stock market remains afloat.

The China Securities Regulatory Commission, the country's industry watchdog, is planning to introduce a divided tax scheme that would tax investors based on their holding period.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1072817/beijing-drafts-dividend-tax-boost-market