According to CoinMeta, on November 11, the State Taxation Administration announced that the transition period for the taxation policy on offshore trust income had smoothly concluded. The vast majority of taxpayers cooperated actively, with a cumulative declaration of personal income tax on offshore trusts exceeding 160 billion yuan. In October alone, this amount surpassed 120 billion yuan, contributing to a nearly 90% increase in national personal income tax revenue for that month.