China Securities Transaction Stamp Tax Hits 216B Yuan, Up 82%

Stamp tax is a direct function of turnover, so an 82% jump implies a far more active Chinese equity market than a year earlier — a signal that the transaction tax base, not policy intent, is doing the work. It matters for anyone tracking where mainland risk appetite sits and how fiscal receipts lean on market activity. The open question is whether that turnover pace holds, since the same fiscal line item would soften quickly if it does not.