No Capital Gains Tax in China but....

I was talking to some Seagate students about the Capital Gains Tax. They confirmed what I read elsewhere that there is no such tax here. However, the government does tax each stock transaction at 1.5 percent. I then asked the students what is the better tax. Opinions were mixed. The stock transaction tax may result in one paying taxes even if you incurred a capital loss. The Capital Gains tax sees losers pay no tax.