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Share stamp duty income falls
By Hu Xiaocen |
October 23, 2012, Tuesday
|
Print Edition
Print Edition
Revenues from stamp duty on stock trading tumbled in the first three quarters of the year amid a sluggish capital market, the Ministry of Finance said yesterday.
The weak market sentiment and shrinking turnover cut the income from stamp duty on stock trading by 32.3 percent annually to 25.1 billion yuan (US$3.97 billion), the ministry said. The growth slowed 34.7 percentage points yearly.
A-share investors paid 138.1 million yuan daily for stamp duty in the 182 trading days over the nine months.
The turnover of the Shanghai Stock Exchange tumbled 35.5 percent in the first nine months, while the Shanghai Composite Index shed 5.1 percent in the same period.
Stamp duty on trading shares accounts for 0.3 percent of total fiscal revenues.
The weak market sentiment and shrinking turnover cut the income from stamp duty on stock trading by 32.3 percent annually to 25.1 billion yuan (US$3.97 billion), the ministry said. The growth slowed 34.7 percentage points yearly.
A-share investors paid 138.1 million yuan daily for stamp duty in the 182 trading days over the nine months.
The turnover of the Shanghai Stock Exchange tumbled 35.5 percent in the first nine months, while the Shanghai Composite Index shed 5.1 percent in the same period.
Stamp duty on trading shares accounts for 0.3 percent of total fiscal revenues.
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