China's super-rich 'in shock' and hunting for cash as Beijing issues surprise tax on offshore trusts
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Source: CNBC
Published: 2026-08-05 10:32 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Asia, China, Tax & Budget, Asia Pacific
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Snippet:
Offshore trusts have long been used by China's ultra-rich to tuck away hundreds of billions of dollars outside the country. Now, a move by Beijing to tax them has set off a rush to lawyers and a scramble for cash.
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