Stamp duty revenues hit a record high

Surging stock transaction volumes pushed up stamp duty revenue on stock trading in the first half of the year to an estimated record 138 billion yuan ($22.26 billion), the highest six-month figure on record and a rise of 545 percent year-on-year, according to data of financial information provider Shanghai Wind Information Co Ltd.

Stock trading stamp duty is 0.1 percent of the transaction value, and is only imposed on sellers.

The tax on stock trading is among China's fastest-growing fiscal revenue category, although it only accounts for 2 percent of its total 6.65 trillion yuan in government revenue in the period, Economic Information Daily reported.