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China's stamp tax revenue soars in Q1

Xinhua | Updated: 2021-04-22 10:04

A clerk counts cash at a bank in Haian, East China's Jiangsu province, on June 24, 2020. [Photo/Sipa]

BEIJING -- China's stamp tax revenue rose 69.3 percent year-on-year to 130.1 billion yuan (about $20 billion) in the first quarter of the year, official data showed Wednesday.

Stock trading stamp tax revenue surged 94.2 percent from a year ago to 88 billion yuan, according to the Ministry of Finance. This marks active trading in the country's booming capital market.

The country's fiscal revenue surged 24.2 percent year-on-year to exceed 5.71 trillion yuan over the same period, while fiscal spending totaled nearly 5.87 trillion yuan, up 6.2 percent from the previous year, data from the ministry showed.

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