Finance and Taxation / Cross-Border / Global Expansion

What's in This Issue

In the first half of the year, nationwide investigations into tax-related violations recovered 180.6 billion yuan in taxes, a year-over-year increase of 20.8%.

Wave of Tax Reimbursements by Listed Companies Gains Momentum: 76 Announcements Totaling 5.8 Billion Yuan This Year, with the Pharmaceutical Industry Hardest Hit

The State Taxation Administration Issues Its First Cross-Border Tax Industry Guidance: "Guidance on Tax-Related Services for International Transportation"

Finance and Tax News: In the first half of the year, nationwide investigations into tax-related violations recovered 180.6 billion yuan in taxes, a year-over-year increase of 20.8%

Recently, the State Taxation Administration announced that in the first half of the year, nationwide investigations into tax-related violations recovered 180.6 billion yuan in tax losses, representing a year-over-year increase of 20.8%. More than 3,200 enterprises were investigated for fraudulently claiming tax incentives, resulting in the collection of 12 billion yuan in back taxes; 32,400 enterprises suspected of issuing fraudulent invoices to evade taxes were investigated, recovering 4.6 billion yuan in lost export tax rebates; and 3,611 cases were filed during a special campaign targeting the medical device industry, resulting in the collection of 5.9 billion yuan in back taxes.

Finance and Tax News: Wave of Tax Backpayments by Listed Companies Gains Momentum: 76 Announcements Totaling 5.8 Billion Yuan This Year; Pharmaceutical Industry Hardest Hit

As of July 10, listed companies had disclosed 76 announcements regarding back taxes totaling 5.8 billion yuan this year, with both figures exceeding the full-year totals for 2025. In the pharmaceutical sector, 20 companies paid a total of 1.6 billion yuan in back taxes, with BeiGene paying 446 million yuan. The Phase IV Golden Tax System has integrated data from tax authorities, banks, and medical insurance agencies, making retroactive audits covering the past 3–5 years a routine practice, with some extending as far back as 6 years.

Finance and Tax News: State Taxation Administration Issues First Cross-Border Tax Industry Guidance, “Guidance on Tax-Related Services for International Transportation”

Recently, the State Taxation Administration issued its first cross-border tax industry guideline, the ”Guidance on Tax-Related Services for International Transportation,” which provides end-to-end tax compliance guidance for businesses engaged in cross-border transportation—including international maritime, air, and land transport—further expanding the “TaxRoad” knowledge product system.

Company News: Changxin Technology Rises 4,651 TP3T on Its First Day of Trading on the STAR Market; Market Cap of 3.28 Trillion Sets Record for Largest IPO on the STAR Market

On July 27, Changxin Technology (688825) debuted on the STAR Market with an offering price of 8.66 yuan. The stock closed at 49 yuan, up 465.82%, and its total market capitalization reached approximately 3.28 trillion yuan, making it the most valuable company on the A-share market. Trading volume on the first day exceeded 100 billion yuan, setting an A-share record, and the 57.9 billion yuan raised marked the largest IPO in the history of the STAR Market. For the first half of the year, the company expects revenue of 110–120 billion yuan and net profit attributable to shareholders of 50–57 billion yuan.

Company News: Dongpeng Beverages Invests 1 Billion to Build a Facility in Zhengzhou; Angel Yeast Invests 370 Million in Synthetic Biology

On July 27, Dongpeng Beverage (605499) announced plans to build a production base in Zhengzhou, with a total investment of 1 billion yuan and a registered capital of 100 million yuan. On the same day, Angel Yeast (600298) announced that its wholly-owned subsidiary plans to invest 370 million yuan in a new synthetic biology pilot and validation base project, with a construction period of 16 months.

Corporate News: CATL Plans to Repurchase and Cancel Shares Worth 20–40 Billion Yuan; ByteDance’s Feishu Merged into Doubao

On July 27, CATL announced plans to repurchase shares worth 20 to 40 billion yuan for cancellation. On July 30, ByteDance launched an organizational restructuring of its AI business, merging Feishu into Doubao to strengthen collaboration in enterprise productivity scenarios. On July 28, Basic Semiconductor signed a 193 million yuan contract for the construction of a silicon carbide packaging production line facility; starting in Q3, prices for some products will increase by up to 251 TP3T.

Company News::Samsung, SK Hynix, NVIDIA, and Broadcom Sign a $950 Billion Chip Deal

On July 27, Samsung Electronics signed a $200 billion advanced memory semiconductor foundry agreement with Broadcom, while SK Group entered into a $750 billion long-term supply partnership with NVIDIA, for a combined total of $950 billion. SK’s partnership with NVIDIA includes over $500 billion in AI infrastructure collaboration; HBM4’s full-year production capacity has been completely sold out, and the supply shortage is expected to persist through 2028.

Overseas Insights: India Is Developing an Import Substitution Plan, Targeting 100 Products Worth Approximately $51 Billion to Boost Domestic Manufacturing

According to a July report, India has identified approximately $51 billion worth of imported goods to promote domestic manufacturing, with the first batch of about 100 products designated as priorities, covering sectors such as electronics, chemicals, pharmaceuticals, fertilizers, semiconductors, automobiles, and machinery. This is the latest move in Prime Minister Modi’s strategy to reduce reliance on imports, aimed at decreasing dependence on overseas suppliers.

Overseas Insights: China and the U.S. Are Seeking Public Comment on Tariff Reduction Arrangements; Framework for Reciprocal Tariff Cuts of $30 Billion Each Is Moving Forward

On July 23, the Ministry of Commerce stated that China and the United States are currently soliciting feedback on tariff reduction arrangements, and that a framework for reciprocal tariff reductions totaling $30 billion on each side is moving forward; the two sides have agreed to establish a Trade Council and an Investment Council. China is currently seeking broad input on the tariff reduction arrangements from enterprises, business associations, and local governments, and will finalize specific tariff reduction plans for individual products and move forward with their implementation as soon as possible.

Overseas Watch::France's ”Anti-Fast Fashion” Bill Passes the Senate, Targeting SHEIN, Temu, and AliExpress

France’s ”Anti-Fast Fashion” bill has passed the Senate, with regulations targeting Chinese platforms such as SHEIN, Temu, and AliExpress; by 2030, the environmental surcharge per item could reach up to 20 euros. Meanwhile, the EU imposed a record-high 550 million euro fine on AliExpress under the Digital Services Act (DSA). China’s Ministry of Commerce responded with ”strong dissatisfaction and serious concern,” and AliExpress plans to appeal the decision.

Cross-border Platforms: Amazon to Implement New 75-Character Title Rule on July 27; AI to Automatically Rewrite Excessively Long Titles

On July 27, Amazon officially implemented a new rule limiting titles to 75 characters (including spaces), with AI automatically rewriting titles that exceed this limit. At the same time, a new 125-character ”Product Highlights” field was introduced. Sellers with brand registration enjoyed a 14-day pre-review period, while unbranded products had their titles truncated immediately. The tactic of stuffing long titles with keywords became completely ineffective, and the logic behind search traffic allocation underwent a structural overhaul; some sellers saw their order volume double after making the necessary adjustments.

Cross-border Platform: TikTok Shop—New EU Regulations on Electrical and Electronic Equipment Take Effect on July 30; Existing Inventory to Be Removed from Shelves by September 30

On July 30, new regulations for electronic and electrical products took effect on TikTok Shop’s EU and UK platforms; new products must submit an EU Declaration of Conformity (DoC), CE certification test reports, multilingual instruction manuals, and other required documents. Starting August 17, a compliance review of existing inventory will begin, and products that do not meet the new regulations will be delisted by September 30. The three-tier deposit structure for the U.S. market has taken effect, with amounts ranging from $500 to $10,000 depending on the risk scenario.

Cross-Border Platforms: Updates to eBay's New Overseas Warehouse Regulations

On July 27, 2026, eBay comprehensively updated its “eBay Certified Fulfillment Center Utilization Requirements” and overseas warehouse management policies. The core focus is on “full compliance,” with strict enforcement against the mixed use of virtual warehouses and non-certified warehouses; sellers who fail to meet the standards will face penalties such as traffic restrictions and account limitations.

Cross-border Platform: Temu Europe Upgrades Entity Verification Process—Accounts Will Be Frozen Immediately if License and Tax ID Numbers Do Not Match

Temu’s European site has upgraded its verification process for business sellers, integrating with EU government databases to conduct six-point cross-verification of information. If any information—such as a business license or tax ID—does not match the official database, the store’s products will be delisted and frozen, and the account will enter a 7- to 15-day review period. Stores cannot operate during the review period. The platform advises that sellers operating through nominee accounts or offshore entities face higher risks and recommends that they conduct self-inspections and update their qualification information as soon as possible.

Immigration News: The deadline for the Australia-Pacific Visa Lottery is July 29; 3,000 permanent residency spots are available

On July 29, the application deadline for the Australia Pacific Participation Visa (Subclass 192) drew closed, offering 3,000 permanent residency spots with a registration fee of 25 Australian dollars. At the same time, the age limit for the Working Holiday Visa was officially raised to 35 (applicable to holders of specific passports), and the reform of the Skilled Migration Points Test was postponed to July 1, 2027. The fee for the Resident Return Visa (RRV) increased from 490 to 1,475 Australian dollars, prompting a petition with over 32,000 signatures.

Immigration News: Indonesia Plans to Introduce a ”7+1” Targeted Visa-Exemption Framework, Offering Short-Term Visa Exemptions to Six Countries, Including China

On July 30, the Indonesian Parliament called on the Directorate General of Immigration to review the ”7+1” targeted visa-waiver proposal, which would grant short-term visa-free entry to citizens of six countries—China, Australia, Japan, South Korea, India, and New Zealand—and extend the benefit to permanent residents of Singapore. In accordance with the principle of reciprocity, the proposal aims to boost tourism in destinations such as Bintan Island, which welcomed more than 1 million foreign visitors annually before the pandemic.