The Chinese Communist Party (CCP) has penalized cross-border brokerages such as Futu, blocking overseas investment channels for Chinese citizens and increasing tax revenue. Latest information indicates that the CCP is preparing to tax offshore trusts, and analysts suggest the scope of the crackdown will expand.
According to a Bloomberg report on May 27, sources familiar with the matter said that tax authorities in Jiangsu, Shenzhen, and other p…
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The Chinese Communist Party (CCP) has penalized cross-border brokerages such as Futu, blocking overseas investment channels for Chinese citizens and increasing tax revenue. Latest information indicates that the CCP is preparing to tax offshore trusts, and analysts suggest the scope of the crackdown will expand.
According to a Bloomberg report on May 27, sources familiar with the matter said that tax authorities in Jiangsu, Shenzhen, and other p…