Finance and Tax News::The State Taxation Administration Plans to Issue New Regulations Clarifying Standards for Tax Penalties

In recent years, cases of tax evasion by companies and live-streamers have been exposed in many regions, resulting in fines. To eliminate disparities in the severity of penalties across regions and prevent inconsistent penalties for similar cases, the State Taxation Administration plans to issue a document to standardize the exercise of discretion in tax administrative penalties. The core of this draft for public comment is the benchmark for penalty discretion, covering 66 penalty items across nine major categories—including tax registration, tax filing, and invoice management. It clarifies the legal basis, grading standards, and conditions for application for each item, thereby standardizing law enforcement and safeguarding taxpayers’ rights.

Finance and Tax News::State Taxation Administration Optimizes Tax Refund Services for Outbound Travelers

Recently, the State Taxation Administration issued the ”Notice on Optimizing Tax Refund Services for Outbound Travelers and Promoting the Standardized Implementation of Policies” (State Taxation Administration Circular [2026] No. 37), which clarifies the promotion of a fully paperless process for tax refunds for outbound travelers and enables the online transfer of electronic information for tax refund applications and sales invoices. Effective September 1, 2026, the ”Buy Now, Get Refunded Now” program will support cross-regional processing: when a tax-refund store issues a refund application form, it will upload the traveler’s identification documents; the agency at the place of issuance will complete the review online; and the agency at the point of departure will finalize the refund after verifying the traveler’s identity. Concurrently, a pilot program for online store tax refunds upon departure is being advanced to broaden shopping channels. This policy aims to further facilitate consumption by international travelers and help create a “shop-and-refund” consumer experience.

Finance and Tax News::Tax Authorities Publicly Expose 7 Cases of Tax Evasion by Popular Online Stores

Recently, the State Taxation Administration publicly disclosed seven cases of tax evasion involving online streamers and online stores. Among them, Wang Yifang, an online streamer from Ningbo, concealed income by receiving payments through a personal account, resulting in underpayment of taxes and fees totaling 1.0855 million yuan. She was ordered to pay the back taxes and fees, plus late payment penalties and fines, for a total of 1.8537 million yuan; An online store in Liaocheng underpaid taxes and fees by 5,447,200 yuan, and its actual controller was fined 9,712,900 yuan. New supporting regulations for the Value-Added Tax Law clarify that when tax authorities discover a taxpayer does not meet the criteria for a small-scale taxpayer, they may require the taxpayer to retroactively pay taxes at the general taxpayer rate (e.g., 13%), rather than calculating taxes based on the collection rates for small-scale taxpayers ranging from 1% to 3%. This significantly increases the cost of noncompliance.

Financial News::A-Share Mid-Year Reports Released: 1,668 Companies Issue Forecasts, 902 Project Increased Profits; "Hard Tech" Leads the Way

On July 15, the first A-share interim report was released. As of that day, a total of 1,668 listed companies had disclosed their interim earnings forecasts, of which 902 projected year-over-year growth in net profit, and 181 expected to turn a profit after previously reporting a loss. In the first half of 2026, a total of 71 companies completed their listings on the A-share market, a year-over-year increase of 39.2%, with total funds raised reaching 70.574 billion yuan—a significant year-over-year surge of 88.93%. The number of A-share companies with a market capitalization of 100 billion yuan reached a record high of 206. Newly added companies in this category shifted from traditional finance and the oil and petrochemical sectors to “hard tech” fields represented by optical modules, semiconductors, and AI servers; last year, these new companies had an average R&D investment of 4.018 billion yuan.

Company News::DeepSeek Reportedly Secures Over 50 Billion Yuan in External Funding, with a Valuation Exceeding 330 Billion Yuan

On July 15, the Bloomberg Billionaires Index showed that DeepSeek founder Liang Wenfeng ranked 63rd on the global wealth list with a net worth of $36 billion, making him the wealthiest entrepreneur in the global pure AI large-model sector. DeepSeek is reported to have secured over 50 billion yuan in external funding in its first round, with a valuation exceeding 330 billion yuan, and has begun preparations for an IPO.

Company News::Apple Raises Production Target for Foldable iPhone to About 10 Million Units; Mass Production to Begin in Q4

According to a report on July 14, Apple has significantly raised its production target for the 2026 foldable iPhone from the previously estimated 7 million to 8 million units to approximately 10 million units. The first foldable model is expected to make its official debut at the fall event in September, alongside the iPhone 18 series. Foxconn, the exclusive assembler, has set up dedicated production lines at its Shenzhen and Zhengzhou campuses, with large-scale mass production scheduled to begin in the fourth quarter of 2026. Samsung Display is the exclusive supplier of the inner screens for the iPhone’s foldable display. A production target of 10 million units means Apple is aiming to challenge for the top spot in the global foldable smartphone market in its very first year.

Overseas Watch::The UAE's e-commerce market is projected to reach $12.3 billion by 2026

The UAE’s e-commerce market continues to grow at a rapid pace, with the market size projected to reach $12.3 billion in 2026 and increase to $21.0 billion by 2031, at a compound annual growth rate (CAGR) of 11.29%. A young expatriate population, high smartphone penetration, and the government’s D33 strategy and the Personal Data Protection Law are collectively driving the shift of everyday consumption to online channels; 79% of transactions are completed via mobile devices, and the UAE Pass digital identity has boosted checkout conversion rates by 40%.

Cross-border dynamics::17 Freight Forwarders in Shenzhen Have Gone Out of Business in Six Months; Cross-Border Logistics Industry Undergoing a Shakeup

In the first half of 2026, Shenzhen’s cross-border freight forwarding industry experienced an unprecedented shakeup. According to statistics from the Freight Forwarders Association, within just six months, 17 freight forwarders had either fled, gone bankrupt, or gone missing—a number five times the average of previous years. with the amounts involved ranging from over 300,000 to 8 million, covering the full spectrum of services—including trailer customs clearance, Southeast Asia “double clearance,” ocean freight booking, dedicated routes to the U.S. and Canada, Middle East channels, and certificates of origin— These incidents occurred at various points between January and June, causing thousands of cross-border sellers to suffer setbacks such as seized goods, lost freight charges, and supply chain disruptions.

Cross-border dynamics::Amazon Launches the “Benchmark New Seller Incubation Program”

Amazon Global Selling today launched the “Benchmark New Seller Incubation Program.” As a long-term incubation initiative, its first goal is to help 2,000 new brands on Amazon achieve three-year sales exceeding 100 million RMB per brand from the time of launch through 2029. The program addresses the transformation and global expansion needs of various types of high-quality enterprises—including manufacturers, brand owners, and emerging brands—by providing customized global expansion solutions covering marketplaces in North America, Europe, Japan, and other regions.

Cross-border dynamics::Temu's intellectual property monitoring covers 15,000 brands

On July 14, Temu announced that it had expanded its intellectual property monitoring to cover 15,000 brands—three times the number from the same period last year. According to its “2026 Intellectual Property Protection Report,” more than 40% new sellers had their applications rejected last year due to failed identity verification, and the platform shut down over 16,000 stores for repeated infringement. This move comes as the European Union investigates Temu under the Digital Services Act, with the company facing a fine of up to 6% of its annual revenue.

Cross-border dynamics::TikTok Cracks Down on Fake AI-Generated Endorsement Content

TikTok recently introduced several new AI content moderation policies, focusing on cracking down on AI-generated fake “product endorsement” videos and sales content that exaggerates product effectiveness. In the first quarter of 2026, the platform removed over 86 million fake accounts and labeled more than 3 billion pieces of AI-generated content. The platform has clearly defined strict prohibitions: AI must not be used to fabricate product features, falsify usage results, or distort a product’s actual attributes. At the same time, TikTok has partnered with organizations such as NAMLE to launch AI literacy education programs and has joined the C2PA Steering Committee to promote content traceability.

Cross-border dynamics::SHEIN Could List in Hong Kong as Early as August, Aiming to Raise $2–3 Billion

SHEIN plans to go public in Hong Kong as early as August, with an expected fundraising target of $2 billion to $3 billion, and is scheduled to undergo a listing hearing with the Hong Kong Stock Exchange on July 16. Chinese sellers now account for 55.91% of the top 10,000 sellers on Amazon’s U.S. site, up 3.8 percentage points year-over-year, surpassing U.S. domestic sellers for the first time. Chayanyueshuo is expanding its e-commerce presence in North America by launching its own Shopify store and joining Amazon and TikTok Shop. The 2026 Global Cross-Border E-Commerce Trade Expo opened in Hangzhou, featuring an ”AI + Cross-Border E-Commerce” zone with over 40 platforms participating. On July 14, Alibaba International hosted the AI Overseas Expansion Summit in Hangzhou to discuss how AI agents can empower the entire foreign trade process.

immigration::The EU has granted technical approval for Cyprus to join the Schengen Area; passport-free travel could begin in 2027

On July 13, the European Commission released an assessment report confirming that Cyprus has met all technical criteria for joining the Schengen Area and is technically ready to join the passport-free Schengen Area. Although political approval from EU member states is still required, once the decision is approved, border checks on flights between Cyprus and the Schengen Area will be eliminated, allowing third-country nationals residing on the island to travel freely within the Schengen Area for short stays. Cypriot officials hope that passport-free travel within Europe can begin in 2027. Businesses will benefit from shorter travel times and simplified employee mobility. On the same day, the EU approved Cyprus’s implementation of Schengen security checks, though some transitional work on border information technology still needs to be completed.

immigration::New U.S. F/J/I Visa Regulations Take Effect on September 15

On July 17, the U.S. announced new regulations regarding the duration of F/J/I visa status, which will take effect 60 days later, on September 15, 2026. The new regulations eliminate the “D/S” designation; upon entry, a fixed departure date will be specified, and the maximum single-stay period for F and J visas will be 4 years; Students who have not completed their studies must meet eligibility requirements to apply for an extension, and the grace period for departure after graduation will be reduced from 60 days to 30 days. Industry analysts note that the new regulations will increase compliance pressures on visa holders and educational institutions, and will also increase the workload for U.S. Citizenship and Immigration Services (USCIS) in processing extension applications.