BEIJINGSHANGHAI, Aug 27 Reuters China halved the stamp duty on stock trading effective Monday in the latest attempt to boost the struggling market as a recovery sputters in the world39;s secondbiggest economy.

The finance ministry said in a brief statement on Sunday it was reducing the 0.1 duty on stock trades in order to invigorate the capital market and boost investor confidence.

Reuters reported on Friday that the authorities were planning to cut the duty by up to half after a key share index fell to ninemonth lows.

Such a policy will likely give a shortterm boost to the market but won39;t have much effect over the long run, Xie Chen, a fund manager at Shanghai Jianwen Investment Management Co, said before the announcement. The rebound could last for just two to three days, or even shorter.

Along with the finance ministry move, the China Securities Regulatory Commission CSRC is rolling out measures to shore up market confidence in investing in listed companies.

The CSRC said on Sunday that China will slow the pace of initial public offerings IPOs and further regulate major shareholders39; share reductions.

Meanwhile, stock exchanges in China have lowered their margin financing requirements, according to the CSRC39;s announcement.

China39;s leaders vowed late last month to reinvigorate the stock market the world39;s second largest which has been reeling as the postpandemic recovery flags and a debt crisis in the property market deepens.

Beijing has taken a…