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Chinese App Founder Sells $110 Million in Shares to Pay Taxman
Source: Bloomberg
Tax & TariffsRegulation & LegislationElections & Domestic Politics
A Chinese technology founder sold HK$863 million ($110 million) of shares in his company to fund tax payments, according to people familiar with the matter. The sale reflects the impact of China’s crackdown targeting billions of dollars in offshore wealth and could add investor concern over regulatory and tax-related pressures on wealthy founders.
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