Before this stock market stamp tax cut, A shares had fallen continuously since the middle of January this year, with a drop of more than 40%, and the market value in the stock market had evaporated by 16.7 trillion yuan. Many investors have already "wiped out" all the profits they made during the whole big bull market in 2007, or were even stuck deeply, suffering heavy losses. The stockholders were extremely panic about the continuous fall of the stock market and lost confidence. The reason why the investors were so panic about the unilateral adjustment of the stock market was that there was no shorting mechanism in the existing stock market in our country, and they could not make profits from short selling, which resulted in strong bull and bear market cycles in the stock market.