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The bulk of China’s rich families came from first-tier cities and economically developed regions in the south and east. Beijing topped the charts, while Shanghai (above) and Hong Kong were in second and third place, Hurun says. Photo: EPA-EFE
China's economic recovery

China’s affluent families see wealth, numbers decline, Hurun report says

1 minute ago

The number of rich families in China declined for the second time in 15 years as the world’s second-largest economy tackles a slew of economic challenges, ranging from a property crisis to dampened business confidence and mounting local government debt.

The bulk of China’s rich families came from first-tier cities and economically developed regions in the south and east. Beijing topped the charts, while Shanghai (above) and Hong Kong were in second and third place, Hurun says. Photo: EPA-EFE

China’s affluent families see wealth, numbers decline, Hurun report says

The number of rich families in China declined for the second time in 15 years as the world’s second-largest economy tackles a slew of economic challenges, ranging from a property crisis to dampened business confidence and mounting local government debt.

1 minute ago

Hong Kong family offices turn to India, now a ‘prime’ investment destination

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17 Mar 2024 - 11:30AM

HSBC woos Asia’s ultra-rich to set up base in Hong Kong with suite of services

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11 Mar 2024 - 8:30AM
An aerial view of Mumbai’s richest business district and skyscraper hub, Lower Parel. Photo: Shutterstock

Hong Kong family offices turn to India, now a ‘prime’ investment destination

Analysts consider India a promising growth story, with significant economic expansion and an influx of capital into equities and fixed income.

17 Mar 2024 - 11:30AM
Banking & finance

HSBC woos Asia’s ultra-rich to set up base in Hong Kong with suite of services

HSBC plans to promote its family office and digital banking services to attract the growing horde of ultra-high-net-worth clients in Asia to its private banking unit.

HSBC plans to promote its family office and digital banking services to attract the growing horde of ultra-high-net-worth clients in Asia to its private banking unit.

11 Mar 2024 - 8:30AM
Millionaires and billionaires

Ranks of self-made women multimillionaires swell as barriers fall: Julius Baer

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The ratio of ultra-rich women stood at 11 per cent of the global total last year, compared with 6.5 per cent in 2010, as changing attitudes towards women doing business has led to a large number of self-made female multimillionaires, according to a survey by Julius Baer.

8 Mar 2024 - 5:56PM

Hong Kong finance firms eager to tap rich clients in cash-for-residency scheme

Financial firms have been flooded with inquiries after the government started accepting applications under the revamped investment migration programme, under which clients need to invest at least US$3.8 million.

7 Mar 2024 - 8:30AM
Hong Kong finance firms eager to tap rich clients in cash-for-residency scheme

Lobby group calls for bolder Wealth Management Connect scheme revamp

The government’s recent adjustments are ‘steps in the right direction’, but further relaxations are needed to revitalise the industry, according to the Asian Securities & Financial Markets Association.

4 Mar 2024 - 10:36AM
Lobby group calls for bolder Wealth Management Connect scheme revamp

Ranks of self-made women multimillionaires swell as barriers fall: Julius Baer

The ratio of ultra-rich women stood at 11 per cent of the global total last year, compared with 6.5 per cent in 2010, as changing attitudes towards women doing business has led to a large number of self-made female multimillionaires, according to a survey by Julius Baer.

8 Mar 2024 - 5:56PM

Hong Kong finance firms eager to tap rich clients in cash-for-residency scheme

Financial firms have been flooded with inquiries after the government started accepting applications under the revamped investment migration programme, under which clients need to invest at least US$3.8 million.

7 Mar 2024 - 8:30AM

Lobby group calls for bolder Wealth Management Connect scheme revamp

The government’s recent adjustments are ‘steps in the right direction’, but further relaxations are needed to revitalise the industry, according to the Asian Securities & Financial Markets Association.

4 Mar 2024 - 10:36AM
Wealth | OPINION
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The Canary Wharf district of east London. Photo :AFP

Concrete Analysis | UK a beacon of commercial property opportunity with end of pandemic in sight

The combination of Brexit and the pandemic has raised the perception of the UK as good value among Asian investors. This is especially true for London, which retains its status as a major global financial hub with real estate that is considered a store of wealth

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Concrete Analysis | Do stock prices, unemployment presage a housing market crash?

Martin Wong of Knight Frank looks at data correlating major movements in the Hang Seng Index and unemployment rate with those in Hong Kong’s home prices.

Martin Wong of Knight Frank looks at data correlating major movements in the Hang Seng Index and unemployment rate with those in Hong Kong’s home prices.

3 Nov 2020 - 7:11PM
Do stock prices, unemployment presage a housing market crash?

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Like employers waking up to the potential of more work-at-home staff, people are starting to see the importance of rooftops and terraces as they spend more time at home, writes Victoria Allan of Habitat Property.

Like employers waking up to the potential of more work-at-home staff, people are starting to see the importance of rooftops and terraces as they spend more time at home, writes Victoria Allan of Habitat Property.

18 Aug 2020 - 6:45PM
Time to upgrade your flat as work-at-home becomes new norm

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