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Local gov'ts in China no longer share securities stamp duty revenue

Xinhua, December 31, 2015 Adjust font size:

Local governments in China will no longer share revenue from stamp duty on securities transactions from Jan. 1, 2016, according to a statement released by the State Council on Thursday.

Currently, 97 percent of the revenue goes to the central government with 3 percent going to local governments.

The move is to improve fiscal revenue distribution between the central and local governments, the statement said, without giving more details. Endit