资本市场回稳拉动相关税收增长 前10个月证券交易印花税增长88%
Jing Ji Ri Bao·2025-11-30 22:30

Core Insights - The significant growth in securities transaction stamp duty reflects a resurgence of investor confidence and market activity, with a 29.5% increase in total stamp duty revenue and an 88.1% increase in securities transaction stamp duty for the first ten months of the year [2][3] Group 1: Market Performance - The A-share market has shown a positive trend with a total trading volume of 338.6 trillion yuan, representing an 87.7% year-on-year increase, which aligns closely with the 88.1% growth in securities transaction stamp duty [4] - The number of new A-share accounts reached 22.4588 million, a 10.6% increase year-on-year, indicating heightened investor participation and inflow of new capital [5] - The margin financing balance approached 2.5 trillion yuan, a 35% increase from the beginning of the year, signaling a shift from stock-based trading to a capital-driven market [6] Group 2: Policy Support and Economic Context - The growth in the capital market is supported by a series of financial policies aimed at stabilizing the market and expectations, including coordinated efforts from the People's Bank of China and other regulatory bodies [6] - The macroeconomic environment remains stable, with listed companies reporting a total revenue of 53.46 trillion yuan and a net profit of 4.7 trillion yuan, reflecting a year-on-year growth of 1.36% and 5.5% respectively [7] - The technology sector has seen significant growth, with the total market capitalization of the electronics industry surpassing that of the banking sector, indicating a shift in asset valuation [7] Group 3: Tax Revenue and Related Effects - The increase in securities transaction stamp duty has also led to a notable rise in personal income tax, which grew by 27.3% year-on-year, attributed to the active capital market and increased wealth effects [8] - The growth in related tax revenues highlights the interconnectedness of the capital market with other sectors, as income from stock transfers and dividends has also risen significantly [8]