Dear Valued Client,

Ministry of Finance of the People's Republic of China and State Taxation Administration announced on 27 August 2023 (Sunday) to lower the stamp duty for A shares & B shares on SSE and SZSE from 0.1% to 0.05% of the consideration of each transaction on the seller, effective from 28 August 2023 (Monday). This revision of stamp duty also applies to Northbound Trading under Stock Connect.

Soochow Securities International Brokerage Limited