According to the Notice of the Ministry of Finance of State Taxation Administration of The People's Republic of China on Tax Issues Concerning Open-end Securities Investment Funds (Caishui [2002] 128),

(1). Individual income tax will not be levied on the difference income obtained by individual investors from purchasing and redeeming fund shares for the time being, and will be levied after the difference income from buying and selling stocks is resumed;

(2) Listed companies, bond issuing enterprises and banks will withhold and pay 20% of the personal income tax when paying the above-mentioned stock dividend income, bond interest income and savings deposit interest income to the fund; Individual income tax and enterprise income tax will not be levied on the income obtained by investors (including individual and institutional investors) from fund distribution.