A piece of news about Hong Kong insurance income involving the taxation of overseas income attracted market attention. On August 7, many Hong Kong insurance stocks continued to open lower. Meanwhile, the stock prices of AIA, Prudential, and Fuwei Group plummeted the day before. Earlier, it was reported that some mainland policyholders who purchased Hong Kong insurance have received tax notices on overseas income, and the regions involved include Hangzhou and Beijing in Zhejiang. According to related news, Hong Kong insurance income is included in the scope of overseas income collection, and the applicable tax rate is 20%. In response, the Hong Kong Insurance Authority replied that the Government and the Insurance Regulatory Authority are closely monitoring the latest developments in the Mainland's financial product tax arrangements and will maintain close communication with the industry. There has always been a requirement for mainland residents that overseas investment income must be declared and taxed in accordance with the law, so there is no need for excessive interpretation or speculation on the market.

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