China’s tax crackdown shakes A-share and Hong Kong-listed firms with major payouts

China’s anti-tax evasion campaign is affecting A-share and Hong Kong-listed firms, with 80+ companies ordered to pay back corporate income taxes and late fees. The number of affected firms in the first half of the year may soon exceed 2025’s total of 89, raising concerns about the campaign’s expansion due to local debt issues and its impact on corporate earnings.