Part 3/11:
A Paradigm Shift: Increased Enforcement and Regulatory Actions
This situation began to change in 2023 when Chinese authorities ramped up cross-referencing of e-commerce companies' bank data with platform sales records. Authorities uncovered staggering levels of undeclared income—one company hid $300,000, another concealed an astonishing $15 million in sales. Penalties soared, with some sellers facing fines exceeding $50 million.