First Financial: Between January and May this year, Chinese residents' offshore income tax payments were approximately 13 billion yuan.

First Financial: Between January and May this year, Chinese residents' offshore income tax payments were approximately 13 billion yuan. BlockBeats news, June 10th, the State Administration of Taxation publicly disclosed relevant information showing that tax authorities have continuously strengthened publicity, guidance, and policy support regarding residents' offshore income, resulting in a significant increase in compliance among taxpayers with offshore income, with a total of about 13 billion yuan in back taxes paid from January to May. (First Financial)
Next, three things need to be monitored: whether the relevant funds continue to flow in, whether on-chain trading volume and holdings continue to expand, and whether project parties or regulators provide new confirmation information. A single news flash can only indicate that sentiment has been ignited; subsequent data will determine whether it can solidify into a trend.
Risks should also be kept on the table: if subsequent transactions and capital flows cannot keep up, the market is very likely to digest it as a one-time pulse.
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