According to CoinMeta, the State Taxation Administration of China stated that Chinese tax residents are obligated to fulfill their tax obligations on global income in accordance with the law. Overseas insurance earnings fall within the scope of taxable income. This policy is not new and is not specifically targeted at the Hong Kong insurance market. The relevant rules apply equally to overseas income from different countries and regions. According to Cai Xin Net, with the normalization of information exchange (represented by CRS), Chinese tax authorities are now able to obtain data on dividends and cash values of overseas insurance policies, and the taxation of insurance earnings from overseas income has been initiated.