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资本市场活跃贡献大 7、8月证券业税收同比增长均超70%
Shang Hai Zheng Quan Bao·2025-09-17 19:28

Core Insights - Tax revenue in China for the first eight months of the year increased by 2% year-on-year, with significant growth observed in July and August, particularly in the securities sector, which saw a tax revenue increase of over 70% [1][2] Tax Revenue Trends - The overall trend for tax revenue collection has shown a steady increase throughout the year, with July and August recording a year-on-year growth rate exceeding 5% [1] - Major tax categories, including domestic value-added tax, domestic consumption tax, corporate income tax, and individual income tax, all maintained positive growth [1] - The manufacturing and financial sectors contributed significantly to tax revenue, with manufacturing accounting for over 30% of total tax revenue and experiencing a growth rate of over 5% [1] Sector-Specific Performance - High-end manufacturing sectors, such as railway, shipbuilding, aerospace, and other transportation equipment manufacturing, reported tax revenue growth exceeding 30% [1] - The capital market's active trading environment in July and August, highlighted by the Shanghai Composite Index surpassing 3,800 points and A-share total market capitalization exceeding 100 trillion yuan, directly contributed to the surge in tax revenue from the capital market services sector [2] - The insurance sector also saw tax revenue growth of over 10% during this period [2] Factors Influencing Tax Revenue Growth - Economic stability and improvement, driven by effective policies from the central government, have laid a solid foundation for tax revenue growth [2] - Increased awareness and compliance among taxpayers regarding legal tax obligations have been fostered by the tax authorities' initiatives to promote lawful and fair tax practices [2][3] - The lower tax revenue base from the previous year also contributed to the higher growth rate observed this year [3]