Chinese App Founder Sells $110 Million in Shares to Pay Taxman
A Chinese tech founder sold HK$863 million ($110 million) worth of shares in his company to pay taxes, sources said. It is the latest response to Beijing's crackdown on offshore wealth.
- Share sale raised HK$863 million ($110 million)
- Proceeds went to pay personal taxes
- China is tightening scrutiny of offshore wealth
Read next
Business