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Hong Kong, which offers a fresh set of incentives, seems to be a reasonable destination for wealthy Chinese families to place their money. But factors such as geopolitics and regional competition also play a part.
The Hong Kong government in its latest annual budget is pulling out all the stops to boost the city’s attractiveness to family offices and new businesses.
Covid-weary Chinese millionaires are looking to Singapore as a safe haven to park financial assets, while taking advantage of the city’s relative freedoms, a welcoming environment and pro-business climate.