Hong Kong Tycoons Start Moving Assets Offshore as Fears Rise Over New Extradition Law (Reuters)

“The fear is that the bar is coming right down on Beijing’s ability to get your assets in Hong Kong. Singapore is the favored destination.”

Some Hong Kong tycoons have started moving personal wealth offshore as concern deepens over a local government plan to allow extraditions of suspects to face trial in China for the first time, according to financial advisers, bankers and lawyers familiar with such transactions. READ MORE

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