There are about 1.6 million Chinese with at least 10 million yuan in investable assets. Many of them have parked cash overseas. Photo: AFP

China’s private wealth surges to 165 trillion yuan

As more wealth moves offshore, Chinese private banks have followed, opening up a new front in their competition with international wealth managers

Topic |   Private banking

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There are about 1.6 million Chinese with at least 10 million yuan in investable assets. Many of them have parked cash overseas. Photo: AFP
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