Happy Tuesday...Good luck to the kids taking the future-defining Gaokao exams this week.

The tax-evasion scandal that appears to be engulfing some film stars looks like it is not going away anytime soon. Fan Bingbing especially may have a problem given her earnings. There is a Wechat message going around purportedly from an ex-wife of a famous director claiming that the tax investigators should just check the bank accounts of Fan’s mother and they will find at least 500m RMB in unreported income. True or not I do not know but given the amounts of money involved in China’s film industry and the political complexity of the industry it is very interesting that this is suddenly in the spotlight.

Thanks for reading.

The Essential Eight

1. The China angle to US tariffs on steel from allies

How China Skirts America’s Antidumping Tariffs on Steel - WSJ:

As the Trump administration ramps up its fight against Chinese steel and Commerce Secretary Wilbur Ross ended trade talks with Beijing over the we…