Jan. 19, 2012 (China Knowledge) - China's stamp duty on stock trading dropped 22.72% year on year to RMB 42.17 billion in 2011 amid a gloomy stock market, according to statistics released by the China Securities Regulatory Commission.

The country's stock trading value totaled RMB 42.16 trillion last year and its stock trading volume reached 3.4 trillion shares. Daily stock trading value slid 23.36% year on year to RMB 172.81 billion last year.

The country saw the total market capitalization of its stock market fall 19.09% year on year to RMB 21.48 trillion at the end of 2011 as the Shanghai Composite Index plunged 21.68% last year and the Shenzhen Component Index dived 32.86%.

At the end of last year, the average price-to-earning ratio of the Shanghai stock market fell 37.99% from 2010 and that of the Shenzhen stock market declined nearly 50%.