China has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters at the headquarters of the Organisation for Economic Cooperation and Development (OECD).
China is the 56th country to sign the Convention. All G20 countries have now signed the Convention and committed to the global OECD standard of automatic exchange of tax information, rather than exchange of information on request. The Convention also provides for simultaneous tax examinations and assistance in tax collection. The agreement will help governments fight offshore tax evasion and protect the confidentiality of the information exchanged.
China and the OECD cooperate closely on a number of taxation issues, and China participates in the OECD's Forum on Tax Administration and its Committee on Fiscal Affairs.