The Hong Kong Federation of Insurers responds to rumors about "the imposition of a 20% personal income tax on the income from overseas insurance policies by mainland authorities": relevant departments have yet to issue an official policy document, and the Hong Kong insurance market remains competitive.

In response to the recent market speculation regarding the "20% individual income tax on overseas policy yields by mainland China," the Hong Kong Insurance Industry Association issued a reply to Yicai today. The Association stated that, as of now, relevant authorities have not released any official policy documents or implementation guidelines, and the Association is continuously monitoring and closely following relevant developments. Therefore, it refrains from making any speculation or comments on the discussions and rumors. The Association emphasized that the demand from clients for protection, wealth inheritance, and asset allocation remains strong. As an international financial center, Hong Kong offers advantages such as flexible product design, diversified currency allocation, and well-executed wealth inheritance planning and services. The Association believes that for clients with relevant needs, the Hong Kong insurance market overall remains attractive and competitive.