For more complete tax and asset planning, a second country's identity is required to practice comprehensive security. China's implementation of global taxation in 2019, through the State Council's implementation regulations of the Individual Income Tax Law of the People's Republic of China, which came into effect on January 1, is a topic that many people holding assets outside of China need to pay attention to. In the meantime, the CRS has been clamping down on the exchange of tax resident information and financial account information between participating countries and regions. According to a senior private banker, "Investors from unstable regions will use the Citizenship by Investment Program to protect their assets from the risk of nationalization, social unrest or revolution."