Chinese family office wealth shifts from Singapore back to Hong Kong, Nikkei reports
Seoul Economic Daily (citing Nikkei Asia) · 2026-10-08
Citing Nikkei Asia, the report says China's July overhaul taxing offshore trusts at 20% per stage, plus Singapore's tighter source-of-funds checks and year-long approvals after a S$3bn laundering case, is pushing Chinese wealth back to Hong Kong. Singapore has over 2,000 SFOs versus 3,384 in Hong Kong, which targets 220 more by 2028.
Vocabulary
Read source ↗- offshore truststrusts set up in a jurisdiction outside the owner's home country
- source of fundswhere the money being invested originally came from
- tax breaksreductions or exemptions in tax