中国股市今年的大幅下挫可能会成为中国人民政治协商会议(CPPCC)的主要讨论话题之一。从本周一开始，中国将在今后两周召开中国人民政治协商会议和中国人民代表大会。

The sharp fall in the Chinese stock market this year is likely to be one of the a big talking point at the meeting of the Chinese People’s Political Consultative Conference (CPPCC), the series of political gatherings¹ in Beijing over the next two weeks.

中国民主党派之一中国民主建国会(China National Democratic Construction Association)已提出一项关于股票交易印花税重大改革的提案，该提案将在本届政协会议上讨论。政协会议是中国主要的政治协商机构，本届政协会议已于本周一召开。

The China National Democratic Construction Association, one of the country’s non-communist political parties, has put forward a proposal for a major reform of the tax on stock-trading which will to be discussed at the annual session. of China’s main political advisory² bodywhich started on Monday.

在今年的中国政协会议上，中国民主建国会的这一提案是最引人关注的问题之一。

The proposal from the China National Democratic Construction Association is one of the most high-profile issues at this year’s meeting of the Chinese People’s Political Consultative Conference (CPPCC).

预计中国人民代表大会(NPC)代表也将支持股票印花税改革，这引发了股票印花税将最终被调降的猜测。中国人大是中国的立法机构，本届人大会议将于今日召开。

Delegates to the National People’s Congress, the country’s legislature whose annual session begins today, are also expected to advocate changes to the stock trading tax, prompting speculation³ that the tax will eventually be cut.

上述提案是迄今最新的例证，表明由于股市投资迅速升温，股市已成为中国一个敏感的政治议题。中国内地股市已较去年10月高点下跌30%，今年迄今累计跌幅约为20%。

The proposals are the latest indication yet of how the stockmarket has become a sensitive political issue in China as a result of the spectacular boom in equity⁴ investing. The mainland market is down 30 per cent from its high in October and around 20 per cent so far this year.

尽管很难得到确切数字，但分析师估计，在去年人们的炒股兴趣大增后，约2000万人直接投资股市。投资基金行业也大幅增长，原因是中国投资者将存款从银行取出并投入股票基金。

Although precise figures are hard to come by, analysts⁵ estimate that around 20m people have invested directly in the stockmarket, after a huge spurt⁶ of interest over the last year. The investment fund industry has also grown dramatically as Chinese investors⁷ have taken money from bank deposits and put them into equity funds.

上海证券(Shanghai Securities)分析师彭蕴亮表示：“鉴于中国股市约一半的市值直接或间接掌握在散户投资者手里，政府的税收政策对人民生活有着巨大影响。因此，这将成为政协会议优先考虑的话题就毫不令人意外了。”

“Given that around half of the market is in the hands of individual investors, directly or indirectly⁸, the government’s tax policy has a big impact on people’s lives. It is not surprising then that this will be a priority topic at the CPPCC,” said Peng Yunliang, analysts at Shanghai Securities.