China's Securities Tax Revenues to Set Record This Year

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.

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, soaring 8.3 times from the same period last year, and in March, the revenues rose to 6.382 billion yuan, the highest since the beginning of the year.

Statistics indicate that the revenues in the first three quarters reached 38.8 billion yuan, 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 in stamp tax revenues in the month.

People's Daily Online --- http://english.peopledaily.com.cn/