Markets

Missing China Banker Wanted to Move Wealth to Singapore – FT

 

Top China dealmaker Bao Fan, who was reported missing by his bank last week, was working on moving some of his wealth to Singapore to establish a ‘family office’, according to a report by the Financial Times.

An increasing number of China’s wealthy have set their sights on Singapore in an attempt to protect their riches from Beijing’s regulatory crackdowns, especially those in favour of ‘common prosperity’ and against corruption.

Read the full report: Financial Times

 

Also read:

Top China Dealmaker Bao Fan Disappears, Bank Stock Plunges

China Bank Reassures Staff Over Star CEO’s Disappearance

‘Common Prosperity’ Drive Cuts China Bankers’ Pay Packets

Jaded Chinese Millionaires Flocking to Singapore – SCMP

 

 

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 vishakha.saxena@asiafinancial.com

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