Firms listed on the Chinese A-share market reported their tax expenses as a percentage of revenue came in at 6.8 percent in the first three quarters of 2021, lower than the 2018 level, according to industry data.

The figure was down 0.48 percentage points from the level seen in 2018, a report released by the China Association for Public Companies said, noting that the tax expenses of the listed firms remained generally stable as policies aiding enterprises and reducing taxes and fees paid off.

Non-financial companies registered a bigger slump with their tax expenses as a percentage of revenue falling to 5.84 in the first nine months last year, according to the report.

During the period, A-share listed firms paid a total of 3.2 trillion yuan (about 502.7 billion U.S. dollars) of taxes, accounting for about 20 percent of national fiscal revenue.