Stock markets on the Chinese mainland got a big boost by the government's announcement to cancel the stamp tax on purchasing shares.

On Friday, both the Shanghai Composite Index and the Shenzhen Component Index soared more than 9 percent.

China Securities Journal quotes analysts as saying the decision by the government is aimed at stabilizing the country's stock market and helping investors regain confidence in the market.

The paper says the performance of the two major stock exchanges on Friday has reflected the obvious effects of the measure.
Meanwhile, 21st Century Business Herald quotes other experts, arguing that such a measure will only be a short-term one, and more measures are actually needed to put the market back on track.

The experts believe that too much involvement by the government in the stock market will not be good for its long-term development.

Instead, more should be done to strengthen and perfect the supervision over the capital market. In view of the macro-economy, they say the adjustment of monetary policy should also be further discussed.