- VIP clubs catering to Chinese are mushrooming across the city state, while Chinese foreign students are looking to stay after graduation.
- “A sluggish domestic market, escalating lockdowns against Covid-19, depreciating properties and the [weak] yuan are all eating away at our wealth, as well as tighter tax scrutiny ahead. The point is, we don’t know how long this will last,” Zhang said.
- The city is one of the top five destinations for high-net-worth individuals looking to emigrate, along with the United Arab Emirates, Australia, Israel and Switzerland, according to the Henley Global Citizens Report released in June. Russia, China, India, Hong Kong and Ukraine have the highest net outflows of wealthy people, said Henley & Partners, an investment migration consultancy based in London.
- The most eye-catching Chinese immigrants to Singapore are wealthy entrepreneurs, who are setting up family offices in the city, said Joylin Su, an executive at an asset-management firm typically serving rich families. READ MORE (Via The Star)
Similar Posts:
- As China Reopens, Flight of Wealthy Chinese to Singapore Set to Accelerate (WSJ)
- Hong Kong Security Law Sparks Race for Asia’s Next Financial Capital (Nikkei Asian Review)
- Luckin Coffee is Launching in Singapore, Will it Do Well? (Momentum Asia)
- Singapore Emerges as Asia’s Digital Securities Trading Hub (Nikkei Asia)
- Are Asian Households Over Their Head in Consumer Debt? (CNBC)
- Morningstar Hong Kong & Singapore Stock of the Week (Q2 2023)
- OCBC Bank (SGX: O39 / FRA: OCBA / OCBB / OTCMKTS: OVCHY): Record Profits as Money Flows to Singapore
- Why China’s ‘Crazy’ Mega-rich Are Moving Their Wealth, and Partying, to Singapore (SCMP)
- Asian Equities Well-positioned Against Global Recession (The Asset)
- Singapore’s GIC Bets on Emerging Market Technolgy Investments (Reuters)
- Bloomberg’s Misery Index’s Least Miserable Emerging Markets
- Asian Banks Are Nibbling the Lunches of Global Banks (CCTV)
- Singapore’s Sovereign Wealth Fund to Increase Investment in China (FT)
- Singapore’s ‘Democratic Dawn’? Parties Adapt to New Landscape (Nikkei Asian Review)
- Southeast Asian Tech Hubs Race to Become the Next Silicon Valley (Nikkei Asian Review)
