Jaded Chinese Millionaires Flocking to Singapore

Wealthy Chinese looking to escape the economic and social crisis at home have found a new destination in close neighbour and ‘safe haven’ Singapore, South China Morning Post reported.

Immigration queries from China have been on the rise this year as the implementation of stringent zero-Covid curbs and a steep fall in property prices has chipped away riches from the wealthy. Concerns have also been on the rise following Xi Jinping’s recent commitment to ‘regulate wealth’ in the country.

Read the full report: SCMP

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Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at [email protected]