China and Hong Kong said recently they are adopting the Common Reporting Standard, in which the tax authorities can collect resident and non-residents’ financial information. Photo: EPA China and Hong Kong said recently they are adopting the Common Reporting Standard, in which the tax authorities can collect resident and non-residents’ financial information. Photo: EPA
China and Hong Kong said recently they are adopting the Common Reporting Standard, in which the tax authorities can collect resident and non-residents’ financial information. Photo: EPA
Jane Li
Opinion

Opinion

Across The Border by Jane Li

Is the new financial information swapping scheme a ticking bomb for China’s richest?

The internationally accepted Common Reporting Standard is to be adopted in China and Hong Kong by 2018

China and Hong Kong said recently they are adopting the Common Reporting Standard, in which the tax authorities can collect resident and non-residents’ financial information. Photo: EPA China and Hong Kong said recently they are adopting the Common Reporting Standard, in which the tax authorities can collect resident and non-residents’ financial information. Photo: EPA
China and Hong Kong said recently they are adopting the Common Reporting Standard, in which the tax authorities can collect resident and non-residents’ financial information. Photo: EPA
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Jane Li

Jane Li

Jane Li is a reporter covering China’s economy and social trends. She graduated from the University of Hong Kong with a master's degree in journalism. Prior to SCMP, she worked for Bloomberg Businessweek and her stories have featured in MSNBC, Quartz and the Financial Times’ Chinese site.