The Hong Kong Insurance Industry Association responds to rumors about taxing returns on overseas insurance policies: No official policy document has been released yet, and the Hong Kong insurance market remains competitive.

According to the Zhizhong Finance APP, in response to the recent market discussions regarding the rumor that the mainland will impose a 20% individual income tax on overseas insurance policy earnings, the Hong Kong Federation of Insurers (HKFI) made a statement to the media today (August 7). The HKFI stated that, as of now, relevant authorities have not released any official policy documents or implementation guidelines, and the HKFI is continuously monitoring and closely following related developments. Therefore, regarding the discussions and rumors, the HKFI will not make any speculations or comments at this time.