In the first ten months this year, the stamp tax revenues in China's securities markets are expected to hit a record high of over 40 billion yuan (US$4.82 billion).
The surge of the revenues mainly resulted from the bullish stock markets in the country, according to a recent report from the State Administration of Taxation.
In February, the tax revenues hit 4.813 billion yuan (US$579.9 million), soaring 8.3 times from the same period last year, and in March, the revenues rose to 6.382 billion yuan (US$768.91 million), the highest since the beginning of the year.
Statistics indicate that the revenues in the first three quarters reached 38.8 billion yuan (US$4.67 billion), a jump of 82 percent over the corresponding period last year, and securities trading in October show that there should be 2.13 billion yuan (US$256.6 million) in stamp tax revenues in the month.
(Xinhua 11/06/2000)
