Agreement to join G20 crackdown on tax evasion

China has agreed to join an international effort by the Group of 20 leading economies to combat tax evasion by signing an agreement to share tax records, the Organization for Economic Cooperation and Development said on Wednesday.

China's decision means that all G20 countries now have agreed to cooperate on tax avoidance, a priority set by global leaders to address the causes of the 2007-2009 financial crisis and to help combat corruption.

The OECD, a global economic policy forum, said that the head of China's State Administration of Taxation, Wang Jun, will sign the convention on Mutual Administrative Assistance in Tax Matters in Paris next week.