What's in This Issue

The Certified Public Accountants Law Takes Strong Action Against Audit Fraud

EU Unveils Tax Simplification Plan

Hong Kong's Asset Management Assets Reach 42.2 Trillion, a Record High

Finance and Tax News::The Certified Public Accountants Law Takes Strong Action Against Audit Fraud

On June 26, the 23rd Session of the Standing Committee of the 14th National People’s Congress voted to pass the Decision on Amending the Certified Public Accountants Law; the new law will take effect on January 1, 2027. Addressing issues such as fraudulent auditing, lax performance of duties, and insufficient penalties within the industry, this amendment introduces a total of 27 revisions. It enshrines the principle of upholding the Party’s leadership in the law, clarifies the state’s support for building integrity within the industry, refines professional standards and circumstances for professional disqualification, adds a new chapter to improve the regulatory framework, significantly raises the maximum fines for violations, and stipulates a lifetime ban from the profession for fraud as well as accountability for entities colluding in fraudulent activities. This amendment reinforces the responsibilities of the capital market’s “gatekeepers” and is of great significance for rectifying financial irregularities and promoting the standardized and healthy development of the industry.

Finance and Tax News::EU Unveils Tax Simplification Plan

The European Commission recently unveiled a comprehensive package of tax reform proposals aimed at streamlining administrative processes and reducing the compliance burden on businesses. The European Commission stated that if this package is approved by member states, businesses could save up to 8 billion euros (approximately 61.9 billion yuan) in compliance costs annually. Key measures in the proposal include eliminating withholding taxes on cross-border dividends, interest, and royalties within the EU, simplifying tax regulations related to financing, and eliminating duplicate reporting requirements. The European Commission noted that compliance costs for small and medium-sized enterprises (SMEs) would be reduced by 25% and 35%, respectively.

Financial News::Hong Kong's Asset Management Assets Reach 42.2 Trillion, a Record High

On July 2, the Hong Kong Securities and Futures Commission released the “2025 Survey on Asset and Wealth Management Activities,” which showed that Hong Kong, as a leading global asset and wealth management hub, delivered outstanding performance in 2025, with total assets under management rising by 20% year-over-year to 42.2 trillion yuan (US$5.4 trillion), setting a new record high.

Overseas Watch::The Ministry of Commerce has added 20 Japanese entities to its export control list

According to a statement from the Ministry of Commerce, in accordance with relevant provisions of laws and regulations such as the “Export Control Law of the People’s Republic of China” and the “Regulations of the People’s Republic of China on the Export Control of Dual-Use Items,” and in order to safeguard national security and interests and fulfill international obligations such as non-proliferation, it has been decided to add 20 Japanese entities—including the Defense Research Institute—that are involved in enhancing Japan’s military capabilities to the export control list, and to take the following measures: I. Export operators are prohibited from exporting dual-use items to the aforementioned 20 entities, and overseas organizations and individuals are prohibited from transferring or providing dual-use items originating in the People’s Republic of China to the aforementioned 20 entities; any related activities currently underway shall be ceased immediately. II. In exceptional circumstances where an export is indeed necessary, export operators shall submit an application to the Ministry of Commerce.

Company News::JD.com's Acquisition of Germany's Ceconomy Receives Conditional Approval

According to the *Global Times*, Germany’s Federal Ministry for Economic Affairs and Energy has recently approved JD.com’s 2.2 billion euro acquisition of the German electronics retail group Ceconomy, subject to certain conditions, including data security requirements. As required by the German government, JD.com must ensure that the personal data of Ceconomy’s German customers is protected. In addition, the German government has been granted extensive oversight and control rights; should any violations occur in the future, the government has the authority to revoke this approval.

Company News::Anker Innovation Listed on the Hong Kong Stock Exchange

Anker Innovation Technology Co., Ltd. recently began trading on the Main Board of the Hong Kong Stock Exchange, raising approximately 4.6 billion Hong Kong dollars through this initial public offering (IPO). Previously, Anker Innovation had listed on the ChiNext board of the Shenzhen Stock Exchange in 2020; its current market capitalization on the A-share market is approximately 60 billion yuan. With this listing, the company has officially completed the establishment of its A+H dual capital platform. Anker Innovation stated that it will use this listing as a significant opportunity to fully commit to the Chinese market (including Hong Kong and Macau) with a renewed focus. Through continuous efforts in three key areas—brand integration, product category expansion, and localization—the company will continue to deepen its presence in the local market.

Company News::iFlytek Open Platform’s Central Asia Site Officially Launches

iFlytek’s Open Platform Central Asia site was officially launched in Uzbekistan, further accelerating iFlytek’s global expansion. At the event, iFlytek unveiled a full-stack AI capability system tailored for the Central Asian market, showcasing its Agent Platform, MaaS Platform, and industry solutions. The company also launched several localized capabilities and announced an ecosystem partnership program. Currently, the platform offers 981 AI capabilities and has attracted 11.46 million developers worldwide.

Cross-border Platform::TikTok Shop Tightens Restrictions on Weight Management Content

TikTok Shop’s Southeast Asia cross-border stores will tighten promotion rules for weight management and muscle-building content starting July 7, 2026. The new regulations explicitly prohibit non-compliant advertising: any violations will result in the removal of related products, and influencers or stores will face penalties. We recommend that sellers of beauty, health, and fitness equipment—as well as their partner creators—immediately review their live-stream scripts and short-video captions to ensure strict compliance with the platform’s regulations and avoid compromising account security by crossing any red lines.

Cross-border Platform::Shopee Vietnam Requires Bank Account Verification

In accordance with Vietnam’s new E-Commerce Law, which officially took effect on July 1, 2026, Shopee Vietnam will implement compliance updates to modules such as seller information management, product listing, and violation handling. Starting July 8, the platform will roll out a bank account verification feature in phases, requiring sellers to link only legitimate payment accounts registered under their own names. and sellers will bear full legal responsibility for any risks arising from inaccurate information. Sellers on the Vietnam site are advised to verify the ownership of their payment accounts and complete their tax and business license address information as soon as possible to avoid disruptions to normal sales due to failed verification or missing addresses.

Immigration Information::Updated Eligibility Requirements for Permanent Residency in Hong Kong and Macao Effective July 1

On June 30, the National Immigration Administration issued Announcement No. 3 of 2026, implementing new regulations for mainland residents seeking to settle in Hong Kong and Macao effective July 1. The announcement specifies the approval criteria for four categories of applications: spousal reunification after three years of separation; children under the age of 18 joining their parents in Hong Kong or Macao; children aged 18–59 caring for elderly parents in Hong Kong or Macao who have no children there; and individuals aged 60 or older with no children in the mainland joining their adult children in Hong Kong or Macao.

Immigration Information::U.S. Supreme Court Rules that Birthright Citizenship Is Unconstitutional

On June 30, the U.S. Supreme Court issued its final ruling, finding the Trump administration’s executive order restricting “birthright citizenship” unconstitutional and formally overturning the order. However, even though Trump lost the case, his measures to crack down on birth tourism remain in place. Giving birth in the U.S. is not a sure path to obtaining a green card, and those interested are advised to pursue legal channels for obtaining residency.

Immigration Information::Portuguese Immigrants Account for 14%, Reaching a Record High

Data recently released by Statistics Portugal shows that in 2025, the country’s resident population stood at 11.4 million, with a total immigrant population of 1.5975 million—accounting for 14.% of the total population—an increase of nearly 59,100 from 2024. The foreign population doubled between 2021 and 2025, with a net increase of over 849,400 people. The influx of immigrants was concentrated between 2022 and 2024, with annual increases of 326,100, 275,900, and 188,300 people, respectively, marking the peak period of immigration growth.