In the first five months, securities transaction stamp duty revenue increased by over 50% year-on-year——
The capital market is getting more and more "fragrance"
Our reporter Ma Chunyang
The latest data released by the Ministry of Finance on June 17 showed that from January to May, the national general public budget revenue was 9645.4 billion yuan, a year-on-year increase of 24.2%.
Among the main tax revenue items, stamp duty reached 190.4 billion yuan, a year-on-year increase of 42.9%.
Among them, the stamp duty on securities transactions reached 122.8 billion yuan, a year-on-year increase of 50.3%, a record high since 2018.
In this regard, many people in the industry have stated that as my country's economy is moving towards high-quality development, the A-share market continues to deepen reforms, the quality of listed companies has been further improved, the value of investment has become prominent, and the attractiveness to investors has gradually increased.
The so-called securities transaction stamp tax is developed from the ordinary stamp tax. It is a tax levied specifically on the amount of stock transactions. It is collected separately from the seller based on the transaction amount of a stock transaction. The current basic tax rate of the tax on A shares is 0.1% and the basic tax rate is 0.1%. To levy.
Chen Mengjie, chief strategy analyst at Yuekai Securities, believes that from a fundamental perspective, my country’s epidemic control is effective and economic recovery continues to deepen.
The latest economic data also show that my country's economy continues to recover steadily.
"Under the combined effect of multiple factors such as the support of fundamentals, the attraction of wealth effects, and the move of residents' savings, the A-share market has greatly increased its activity."
The increase in stamp duty income from securities transactions is closely related to the continued structural market quotation of A-shares and the continuous expansion of trading volume in the Shanghai and Shenzhen markets.
In the first five months of this year, the turnover of the A-share market showed a trend of high growth.
Data show that from January to May this year, the turnover of the A stock market reached 86.38 trillion yuan, a year-on-year increase of 16.36%.
"With the gradual improvement of the capital market ecology and the continuous display of the'money-making effect' under the structural market, the attractiveness of my country's stock market has gradually increased. In particular, it has attracted Chinese residents to carry out'savings and relocation', such as residents'borrowing to the market' Significant growth." Chen Mengjie said.
According to the data, from January to May 2021, the scale of fund products issued by public funds reached 1351.5 billion (according to the start date of subscription), and the total number was 672, an increase of 53% and 9% respectively over the same period in 2020.
In addition, northbound funds are actively pouring into the A-share market, indicating that foreign capital continues to be optimistic about A-shares.
"Since this year, the amount of foreign capital allocated to my country's equity assets through the northward capital has reached 210 billion yuan. The strong'magnetic attraction' effect in the domestic market continues to appear. The current pace of the two major index companies, MSCI and FTSE Russell, has slowed down, but subsequent It is still expected to further increase the weight of A-shares in its index and bring considerable capital increments." Chen Mengjie said.
The continued "running entry" of new investors is also a powerful manifestation of the increased attractiveness of the stock market.
The latest data released by China Securities Depository and Clearing Co., Ltd. shows that in May 2021, the number of new investors in the market reached 1.4122 million, a year-on-year increase of 16.32%.
It is worth mentioning that the number of new investors in the market in the first five months of this year has reached 9,284,700, while in the same period last year, the number of new investors in the market was 6,441,800.
Where does the attraction of A shares come from?
Dong Zhongyun, chief economist of AVIC Securities, said that from the perspective of A-shares, the registration system, delisting mechanism and other market systems have been continuously improved, and market supervision has been continuously optimized. Promoting the improvement of the quality of listed companies has become the focus of regulatory work, and there will be more and more in the future. The more high-quality companies are listed, the market industry structure will further reflect the characteristics of the new economy, and the growth will be more prominent, thus providing investors with more investment opportunities to share the dividends of my country's new economic development.
Our reporter Ma Chunyang