Singapore a growing draw for wealthy Chinese seeking diversification, say industry players

SINGAPORE - For the wealthy Chinese, Singapore is part of their global diversification strategy that also includes Dubai, a growing financial hub in the Middle East, but there is still a home bias, particularly towards Hong Kong.

Many of them, scarred by

China’s strict zero-Covid policies

during the pandemic and the unpredictable rules, have turned to Singapore as a safe haven to park some of their funds or as a backup immigration plan.