China is now among 56 countries that have signed the OECD's Multilateral Convention on Mutual Administrative Assistance in Tax Matters, demonstrating its commitment to fight tax evasion and improve global tax compliance.

The Convention was developed jointly by the OECD and the Council of Europe in 1988 and amended by Protocol in 2010.

At the signing ceremony in Paris on 27 August 2013, OECD Secretary-General Angel Gurrea said: 'Today's signing is very timely given next week's G20 Summit and the focus it will have on tax matters. The OECD, China and other G20 countries are working together to make this a reality by developing the operational platform for the new single global standard for automatic exchange of information. A valuable tool for governments to fight offshore tax evasion, the Convention also ensures compliance with national tax laws and respects the rights of taxpayers by protecting the confidentiality of the information exchanged.'

More details are available from the OECD HERE