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Rush of Chinese money on HK bourse brings tax windfall

Tax collected hit HK$400m a day in April from trading duties as daily turnover on bourse hits record HK$291.5b

Published Wed, May 13, 2015 · 09:50 PM
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Hong Kong

APRIL was a good month for the Hong Kong taxman as a flood of Chinese money into the city's stocks almost tripled stamp duties on trading.

The taxman collected HK$400 million (S$68.7 million) a day in April from trading duties as daily turnover on Hong Kong Exchanges & Clearing Ltd's equity markets surged to a record HK$291.5 billion, according to calculations by Bloomberg.

That may be just a start as China looks to expand a trading link between Shanghai and Hong Kong this year to include the southern city of Shenzhen. Better-than-expected revenue from stamp duty, including on property sales, has al…

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