China Tax Rules, Chip Progress, and AI Product Updates

Key Takeaways

1. China's new offshore trust rules impose 20% capital gains tax on assets, including annual reporting for undistributed gains, with a 90-day grace period for historical disclosures.
2. China's chip catch-up effort, led by Ding Xuexiang with a US-accelerated model, has reduced AI chip import dependency from 90% to under 60%, but total computing power is only 14% of the US, and EUV lithography remains a decade away.
3. Levelsio pivots Immortals to a personal health infrastructure platform, seeking engineers to tackle all diseases as the next rational step.
4. Tw93 releases Kami V1.10, a tool that transforms raw content into publishable docs via content contracts, templates, and MCP support for agent workflows.
5. Arvid Kahl reports that Claude Code and Codex perform similarly with a planning-implementation split, and that adversarial review is a key legacy of agentic engineering.

1. Policy and Economy

1. China issued new offshore trust rules requiring a 20% capital gains tax on asset appreciation, even if undistributed, with annual reporting and a 90-day grace period for historical compliance. — via 1
2. Former CSRC Vice Chairman Fang Xinghai was placed under investigation for serious disciplinary violations, having previously been denied a World Bank position by the Organization Department. His 2019 Davos speech criticizing Western democracy has resurfaced. — via 1 2

2. Geopolitics and Society

1. A European Council on Foreign Relations report systematically outlines China's information influence tactics in Europe, including five categories such as borrowing voices, information whitewashing, and source disguise, noting Central and Eastern Europe as early-warning samples. — via 1
2. The "Wang Wang" stray dog killing incident in Jieyang, Guangdong has sparked global protests and memorials in cities like San Francisco, Kuala Lumpur, New York, and Seoul, while domestic authorities suppress grassroots organization with censorship and police summons. — via 1 2 3 4 5
3. India's "Cockroach People's Party" youth protests continue, using memes, selfies, and satire to challenge Modi's information control; police have imposed internet blackouts, and Modi's fast-track courts have been rejected. — via 1 2
4. China's chip catch-up is now led by Ding Xuexiang under a US-accelerated model (copying the "two bombs and one satellite" approach). Huawei's "carving" strategy has reduced AI chip import dependency from 90% to under 60%, but total computing power is only 14% of the US, and EUV lithography still requires at least a decade. — via 1

3. AI and Entrepreneurship

1. Levelsio (@levelsio) is pivoting his company Immortals into a personal health infrastructure platform, stating that solving all diseases is the next rational step, and inviting engineers to join. — via 1
2. Tw93 releases Kami V1.10, which converts raw content into publishable documents using content contracts, editing templates, rendering, and page-by-page review, with MCP support for agents to use the entire workflow. — via 1
3. Tony Dinh notes that Claude Opus 5 is now available on TypingMind. — via 1
4. Arvid Kahl reports that when using the largest model for planning and a slightly smaller model for implementation, Claude Code and Codex show no difference; both perform excellently with adversarial review. He also notes that even if agentic engineering disappeared, its legacy includes renewed focus on testing, writing good specs, and early exposure to adversarial review, integration testing, and performance monitoring. — via 1 2