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Leave your emailRegulatory authorities have issued a tax reclamation announcement, shattering the tax avoidance shell of trusts. Some Chinese tycoons are urgently paying back taxes in response to the requirements, even raising funds by selling off assets.
Read originalThe transition period for offshore trust tax filing ends on October 22. Late fees will be imposed for overdue filings.
Read originalA related report shows that 75.5% of Asian respondents said families would consider setting up a family office after selling a business.
Read originalA 2% tax is being pursued on offshore trusts, involving 8 tycoons including Lei Jun and Ding Lei with over HK$1 trillion in assets. This tax policy may trigger a chain reaction of asset sell-offs by the involved tycoons.
Read originalThe transition period for offshore trust tax declarations will end on October 22, and late fees will be charged to entities that fail to complete declarations by the deadline.
Read originalThe deadline for tax collection from the wealthy is approaching. Relevant commentary believes that this tax collection measure is killing the goose that lays the golden eggs.
Read originalThe State Taxation Administration has issued a reminder regarding offshore trust tax filing. This reminder was published by Beijing News, and further specific filing requirements, scope of application, and other details have not been disclosed at this time.
Read originalThe U.S. added 440,000 new millionaires in 2025, with national wealth reaching a record high. The growth in millionaire numbers was primarily driven by stock market performance, as the U.S. is creating new millionaires at a record pace.
Read original22 October is the deadline for individual income tax filing on overseas income in mainland China, and some Chinese high-net-worth individuals are currently raising funds by disposing of assets to settle back tax payments. This matter relates to mainland China's individual income tax administration on overseas income and the CRS information exchange mechanism.
Read originalThe deadline for individual income tax declaration on overseas income is approaching on October 22, and Chinese wealthy are "cutting flesh" to pay back taxes. This report comes from Canada News Network and does not mention specific back tax amounts, details of applicable rules, or information on relevant regulatory authorities.
Read originalAs the tax back-payment deadline approaches, Chinese high-net-worth individuals are selling off assets and trust products. This development was disclosed by ATV News, and specific rule details and enforcement requirements for this back-payment have not yet been announced.
Read originalAccording to Lianhe Zaobao reports, Chinese ultra-high-net-worth individuals are terminating offshore trusts and raising funds to address tax collection. Details regarding the specific scale of trusts involved, tax collection policy specifics, and relevant enforcement departments have not yet been disclosed.
Read originalFinancial Secretary Paul Chan, as a member of the Chinese delegation, attended the plenary meetings of the International Monetary Fund and World Bank Group Annual Meetings held in Bangkok, Thailand. During related exchange events, he introduced the development direction of Hong Kong's first five-year plan aligned with the national 15th Five-Year Plan, mentioning that Hong Kong will focus on building the Four Centres and One Hub, deepen the Finance+ strategy, expand offshore RMB business, and meet with executives of the World Bank Group and management of major European digital banks.
Read originalThis content focuses on Beijing's dilemma regarding Hong Kong's positioning as a wealth center. No further relevant details have been disclosed.
Read originalFinancial Secretary Paul Chan, as a member of the Chinese delegation, attended the Annual Meetings of the International Monetary Fund and the World Bank Group held in Bangkok, Thailand, and participated in a roundtable co-hosted by the International Monetary Fund and the Hong Kong Monetary Authority. He introduced Hong Kong's investment and financing market advantages at the meeting and invited international multilateral organizations, financial institutions, and insurance companies to cooperate to improve capital raising and risk management efficiency. Paul Chan also met with the Chinese Ambassador to Thailand and senior executives of the International Finance Corporation in the Asia-Pacific region to discuss deepening cooperation in multiple fields.
Read originalSK Chairman Chey Tae-won has sold equity to a Dell family office fund, raising $400 million to cover divorce settlement costs. The transaction is a financing arrangement related to his landmark divorce case.
Read originalHong Kong's new Capital Investment Entrant Scheme has attracted a cumulative HKD 7.45 billion over three years since implementation, with the scheme scale repeatedly reaching new highs.
Read originalSun Life has appointed three executives to lead its private wealth business. This personnel arrangement was disclosed by industry media Insurance Asia. The specific names, job responsibilities, and business plan details of the three executives have not been announced.
Read originalHKMA Chief Executive Eddie Yue delivered opening remarks at the 16th Annual International Conference on the Chinese Economy, centered on the theme "Beyond the Cycle: Growth, Innovation, and Resilience in the Chinese Economy." He noted that the core of China's long-term sustainable economic growth lies in technological innovation, structural upgrading, and boosting domestic demand. China is accelerating its shift toward a high-quality development model, replacing its traditional reliance on infrastructure and real estate with advanced manufacturing, artificial intelligence, and green and digital industries.
Read originalPrudential announced that Chan Shih-shan, CEO of Prudential Singapore, will transfer to the newly created role of Chief Partnership Officer at its asset management arm, Amundi Investment, effective September 28. She will be based in Singapore, report to Amundi CEO Rajiv Mittal, and join its executive management committee. Chan will lead efforts to strengthen collaboration between Prudential’s life insurance business and Amundi, developing investment, wealth, and retirement solutions for Asian clients. Former Prudential Singapore CFO Andreas Rosenthal will serve as interim CEO of Prudential Singapore effective September 28, while the search for a permanent CEO continues.
Read originalThe Hong Kong SAR Government has released the 2026 Policy Address, proposing a number of policies to attract talent, optimize visas, and build an international education hub. The Address proposes considering adding categories related to artificial intelligence applications to the Talent List, which currently covers 60 types of professions with local shortages.
Read originalPrudential announced its 2026 first interim dividend of 8.88 US cents per share. Registered shareholders in the UK and Hong Kong may elect to receive the dividend in pounds sterling, Hong Kong dollars or US dollars, with the deadline for US dollar elections on 2 October 2026. The ex-dividend date is 10 September 2026, with payment dates of 22 October 2026 for holders of Hong Kong, UK and US depositary receipts, and approximately 29 October 2026 for Singapore shareholders. The dividend is offered with a scrip dividend alternative, applicable only to Hong Kong-listed shares; UK registered shareholders may elect for a dividend reinvestment plan in lieu of the scrip dividend.
Read originalFWD Group announced that Mark Bensman will officially join the company on May 25, 2026, as Chief Head of FWD High Net Worth Business. This appointment is a key personnel arrangement for FWD’s continuously expanding high net worth business.
Read originalPrudential has released its inaugural Asia Financial Well-being Index, surveying 7,707 adults aged 18-60 across 8 Asian markets, with an overall score of 58.9 out of 100. The 18-35 age group scored highest at 59.8, while the 50-60 age group scored lowest at 57.7, showing a gradual decline with increasing age. Vietnam ranked first in the region with a score of 65.1, while Hong Kong ranked last at 52.5. Only 18% of respondents believe they have access to the financial services needed to achieve financial success.
Read originalThe Hong Kong Investment Funds Association (HKIFA) has launched a three-part investor education animation series, partnering with the Securities and Futures Commission (SFC) to promote fund literacy and anti-fraud awareness. Since its launch in mid-October, the series has accumulated 1.6 million views. In the first three quarters of 2025, total Hong Kong retail fund sales reached USD 82.6 billion, up 35% year-on-year, exceeding the full-year total of 2024; net inflows reached USD 15.7 billion, up 44% year-on-year, the highest level since 2015.
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