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S&P Says Tax on Mainland Residents' Offshore Policy Gains May Affect HK Banks and Insurers Sales
2026-08-13 14:06:00 S&P Global said mainland China's taxation on gains from offshore insurance policies held by residents may affect sales of Hong Kong banking and insurance businesses. S&P said sales targeting mainland Chinese clients by Hong Kong banks and insurers may slow as more consumers cautiously assess tax implications before purchasing offshore insurance and investment products. However, the agency expects banks to cope with the temporary decline in fee income through diversification of wealth management platforms and adjustments to product portfolios. S&P also believes life insurers can still maintain growth of 8% to 10% over the next two years amid resilient underlying demand. (da/j)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |