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.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you