{"id":79368,"date":"2018-02-08T15:11:02","date_gmt":"2018-02-08T08:11:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-emerges-as-favoured-investment-destination-for-chinas-super-rich\/"},"modified":"2018-02-08T16:02:57","modified_gmt":"2018-02-08T09:02:57","slug":"spore-emerges-as-favoured-investment-destination-for-chinas-super-rich","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-emerges-as-favoured-investment-destination-for-chinas-super-rich\/","title":{"rendered":"S\u2019pore emerges as favoured investment destination for China\u2019s super-rich"},"content":{"rendered":"


\n Singapore is gaining popularity amongst wealthy Chinese investors because of its world-class health facilities and international schools, while Mandarin is among its four official languages.
\nWhile Hong Kong continues to be the primary destination for China\u2019s offshore money, more Chinese high-net-worth individuals (HNWIs) are looking at Singapore as a safe haven to park their wealth.
\nThis comes as Chinese HNWIs feel exposed by Hong Kong\u2019s changing banking practices, reported Bloomberg.
\nSEE ALSO: Chinese cash policy puts the squeeze on ambitious Johor project
\nHong Kong has entered into tax transparency agreements which requires banks to report their account holder\u2019s information to Hong Kong officials, which in turn makes the information available to 75 jurisdictions, including mainland China.
\nWhile Singapore also has similar agreements with 61 jurisdictions, it does not include either Beijing or Hong Kong, which means the Chinese government has no access to their account holders.
\n\u201cMany rich people from the mainland believe Hong Kong is still a part of China, after all,\u201d said Xia Chun, chief research officer at Noah Holdings Ltd. of Hong Kong, an asset management service provider. \u201cThey think there\u2019s no difference in putting money in Hong Kong, compared to Beijing.\u201d
\nWith this, the number of Chinese HNWIs who consider Hong Kong as their preferred overseas destination for investment fell to 53 percent from 71 percent in 2016, revealed a Bain & Co. survey. Over 20 percent prefer Singapore, an increase from 15 percent in 2016.
\n\u201cSingapore is the Zurich of the East,\u201d said Xiao Xiao, chief operating officer of Chinese wealth manager Fortunes Capital.
\n\u201cWe see Singapore, not Hong Kong, as the bridgehead of China\u2019s investment overseas,\u201d noted Li Qinghao, co-founder of NewBanker Tech Consulting.
\nSingapore offers other attractions for Chinese HNWIs. The city-state has world-class health facilities and international schools, while Mandarin is among its four official languages.
\nAnd with real estate far cheaper than in Hong Kong, mainland Chinese emerged as the biggest foreign buyers of luxury properties in Singapore in H1 2017, said Cushman & Wakefield.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…S\u2019pore emerges as favoured investment destination for China\u2019s super-rich<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore is gaining popularity amongst wealthy Chinese investors because of its world-class health facilities and...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-79368","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-kE8","jetpack-related-posts":[{"id":172680,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-ranks-7th-globally-in-drawing-next-wealthy-class-trailing-singapore-study\/","url_meta":{"origin":79368,"position":0},"title":"Hong Kong ranks 7th globally in drawing next wealthy class \u2013 trailing Singapore: study","date":"October 2, 2026","format":false,"excerpt":"\r Hong Kong ranked seventh globally as a destination for attracting and retaining the next generation of high-net-worth individuals (HNWIs), trailing traditional rival Singapore in sixth place, according to a Savills study. 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