China

Peoples Daily | English | News | Jan. 23, 2026 | Critical Infrastructure Failure

Power maintenance staff in Hubei Province, China, are actively conducting patrols and deicing operations to maintain the stability of the power grid amid widespread low temperatures and severe icing conditions in high-altitude areas.

These efforts are focused on ensuring the continuous and stable operation of power lines, which face significant risks due to ice accumulation. The maintenance activities include on-site inspections, deicing work on power towers, and vehicle patrols across affected regions such as Zouma Town in Hefeng County and Muyu Town in the Shennongjia Forestry District.

Peoples Daily | English | News | Jan. 23, 2026 | South China Sea

On January 12, 2026, the China Coast Guard vessel Fuying dismantled illegally planted fish traps near Xianbin Jiao in the South China Sea. These fish traps are characterized by buoyant materials such as tires, foam, or iron barrels visible above water, with ropes extending dozens to over a hundred meters deep, adorned with tree branches to attract fish.

The small above-water size of these traps makes them difficult to detect, but they pose significant risks to sailing, as their ropes and branches can entangle ship propellers. Additionally, the materials used in the traps release tiny particles that can be absorbed by fish, posing threats to marine life and the environment.

The China Coast Guard has pledged to continue vigilant patrols to identify and immediately dismantle illegal fish traps in the area to ensure the safety of navigation and protect the ecological health of waters under China's jurisdiction.

事关个人所得税！财政部、税务总局、证监会等三部门发布

STCN | Local Language | News | Jan. 23, 2026 | Regulation

On January 21, 2026, the Ministry of Finance, State Taxation Administration, and China Securities Regulatory Commission jointly announced the continuation of tax policies for the pilot domestic issuance of depositary receipts (CDRs) by innovative enterprises. From January 1, 2026, to December 31, 2027, individual investors will be temporarily exempt from personal income tax on price-differential gains from transferring CDRs of innovative enterprises.

During the same period, a differentiated personal income tax policy will apply to dividend income received by individual investors holding CDRs. Tax withholding and payment responsibilities fall on the domestic depositary institution, which must also file detailed reports with the tax authorities. Foreign tax credits may be granted for dividends already taxed abroad, according to relevant laws and bilateral tax treaties.

For corporate investors, price-differential gains and dividend income related to CDRs of innovative enterprises will follow existing enterprise income tax policies for share transfers and dividends. Public securities investment funds are temporarily exempt from enterprise income tax on these gains and dividends. Qualified foreign institutional investors (QFII) and renminbi qualified foreign institutional investors (RQFII) will treat such gains and dividends as income related to the transfer or holding of the underlying shares of the CDRs for enterprise income tax purposes.

The announcement defines "CDR of innovative enterprises" as securities issued domestically by a depositary based on overseas shares, meeting the pilot enterprise criteria set by the State Council and CSRC guidelines. These CDRs represent rights in the underlying overseas securities.