China will further Optimize Tax Services for Outbound Investment to help the companies operating abroad achieve long-term development, said an official at the national tax work conference held in Beijing on Friday.

With its focus on improving the international tax system, China’s tax authorities will make concrete efforts to deepen international exchange and cooperation this year in a bid to promote the connectivity and implementation of relevant rules of the Regional Comprehensive Economic Partnership and the China-EU investment agreement.

“We have successively updated and released investment taxation guidelines covering 104 countries and regions to help the companies operating abroad achieve stability and long-term development,” said Wang.

To facilitate cross-border trade and investment along the Belt & Road, China has set up a multilateral tax cooperation mechanism under the Belt & Road Initiative (BRI) in 2019.

The BRI tax administration cooperation mechanism now has 36 Council Members and 30 Observers.

During the 13th Five-Year Plan period (2016-2020), China signed six new tax treaties and amended 13 others under the mechanism. The tax treaties under the mechanism now cover 111 countries and regions.