China's tax offices are stepping up oversight and issuing disclosure orders for offshore assets following the expiration of the country’s 90-day grace period for reporting offshore trusts last Thursday. Beijing tax authorities have published notices for 21 individuals, ordering them to submit tax documentation linked to offshore trusts within 15 days. This move is part of an ongoing push to spur voluntary tax disclosures and serves as a warning to other high-net-worth individuals holding offshore trusts. China has ramped up efforts to tax offshore assets this year, with individual income tax proceeds climbing 14.1% in the first three quarters. NetEase's Ding Lei and PDD Holdings' Huang Zheng are among the high-net-worth individuals potentially affected by these measures.