China issues first tax rules for offshore trusts.
Today's events
Offshore trusts taxed.
Finance ministry and tax administration will tax residents when they put assets into offshore trusts, and yearly on gains, distributed or not.1Jul 24 · Finance MinistryParty in the platforms.
A Central Committee and State Council document, carried July 23 by Qiushi, orders Party organization built into internet platforms, private firms and gig work.2Jul 23 · QiushiExpelled from the Party.
Anti-corruption investigators expelled Hainan's former legislative vice-chairman, Tibet's former legislative vice-chairman and the water ministry's former vice-minister.3Jul 25 · Discipline CommissionNamibia minerals.
Xi and Namibia's president elevated ties to a “community of shared future,” with Xi setting three principles for Chinese mining cooperation across Africa.4Jul 25 · State CouncilData centres and power.
Computing facilities used 170 billion kilowatt-hours in 2025, about 1.6% of national consumption; the energy administration expects 6% by 2030.5Jul 24 · Energy AdministrationCambodia trade pledge.
Commerce minister signed a memorandum in which Phnom Penh affirmed it has not and will not adopt discriminatory measures targeting China.6Jul 25 · Commerce MinistryTrade-in subsidies.
Commerce ministry said the consumer goods trade-in scheme has been used more than 150 million times this year, and ordered wider coverage.7Jul 25 · Commerce MinistryCode of conduct push.
Foreign minister told the China-ASEAN meeting in Manila the South China Sea must not obstruct ties, urging faster code-of-conduct talks.8Jul 23 · Foreign MinistryNorth Korea treaty.
Xi and Kim Jong Un exchanged messages on the 65th anniversary of their mutual-defence treaty; Pyongyang's premier pledged support on Taiwan.9Jul 25 · State Council
Voices
“Helping Africa develop its rich mineral resources, and genuinely turning resource advantage into development momentum, is an important path to accelerating Africa's modernization.”
President Xi Jinping, talks with Namibia · July 104
“Placing property into an offshore trust, and income obtained through an offshore trust, constitute income under the Individual Income Tax Law and must be declared and taxed.”
Finance Ministry and Tax Administration, Announcement No. 21 · July 241
“Social work is an important part of the work of the Party and the state; it bears on the Party's long-term governance and the country's lasting stability.”
Communist Party Central Committee and State Council, Opinions on Social Work · July 232
“China has consistently opposed politicizing and instrumentalizing technology and trade issues. Such conduct only disrupts global artificial-intelligence development and serves no party's interest.”
Foreign Ministry Spokesperson Lin Jian · July 238
“He had no regard for law or discipline, using his authority as top leader to interfere on a large scale in construction projects and trade power for money.”
Central Commission for Discipline Inspection, on Xiao Jie · July 253
“Of every ten kilowatt-hours society consumes, nearly four are green power. Let every kilowatt-hour be put to full use, and every token travel with green.”
Energy Administration Director Wang Hongzhi, Shanghai · July 175
Sources
- Ministry of Finance & State Taxation Administration, “Announcement on Individual Income Tax Matters Concerning Offshore Trusts” (Announcement 2026 No. 21), July 24, 2026. mof.gov.cn/zhengcefabu/…/offshore-trust-income-tax
- Qiushi, “CPC Central Committee and State Council Issue Opinions on Strengthening Social Work in the New Era,” July 23, 2026. qstheory.cn/20260723/…/social-work-opinions
- Central Commission for Discipline Inspection, “Xiao Jie, Former Member of the Party Group and Vice-Chairman of the Hainan People's Congress Standing Committee, Expelled from the Party,” July 25, 2026. ccdi.gov.cn/yaowenn/…/xiao-jie-expelled
- State Council (Xinhua), “Xi Jinping Holds Talks with Namibian President Nandi-Ndaitwah,” published July 25, 2026. gov.cn/yaowen/liebiao/…/xi-namibia-talks
- National Energy Administration, “China to Accelerate a New Energy System as Computing and Electricity Empower Each Other,” July 24, 2026. nea.gov.cn/20260724/…/computing-and-electricity
- Ministry of Commerce, “Ministry of Commerce and Cambodia's Ministry of Commerce Sign a Memorandum of Understanding on Strengthening Cooperation and Mutual Understanding in the Context of Third-Country Trade Measures,” July 25, 2026. mofcom.gov.cn/xwfb/bldhd/…/cambodia-memorandum
- Ministry of Commerce, “National Mid-Year Video Conference on Advancing the Consumer Goods Trade-In Programme Held in Beijing,” July 25, 2026. mofcom.gov.cn/xwfb/bldhd/…/trade-in-mid-year
- Ministry of Foreign Affairs, “Foreign Ministry Spokesperson Lin Jian's Regular Press Conference on July 23, 2026,” July 23, 2026. mfa.gov.cn/wjdt/fyrbt/…/2026-07-23-briefing
- State Council (Xinhua), “Xi Jinping and Kim Jong Un Exchange Congratulatory Messages on the 65th Anniversary of the China-DPRK Treaty of Friendship, Co-operation and Mutual Assistance,” published July 25, 2026. gov.cn/yaowen/liebiao/…/china-dprk-treaty-65