China’s collection of stock stamp duty jumps more than 80% as AI frenzy boosts trading

China’s revenue from stamp duty on stock sales jumped more than 80 per cent in the first eight months this year as improved sentiment bolstered trading activities. China collected 216 billion yuan (US$32.3 billion) from the tax between January and August, up 82 per cent year on year, data released by the Ministry of Finance showed. Average daily trading values on mainland China’s stock markets rose 72 per cent in the first eight months of the year as the artificial intelligence boom bolstered...