The eight-bedroom, seven-bathroom house Altona on Sydney’s harbourfront was sold to a Chinese businessman for US$54.3 million in 2013, setting a new property record for the city. Picture: AFP
Jason Wordie
Opinion

Opinion

Then & Now by Jason Wordie

When capital flight meant a trip to Hong Kong with suitcases of cash: how the smart money got out of China then and now

Wealthy Chinese have always stashed a portion of their wealth beyond China’s borders for a rainy day, be it in Hong Kong and Macau or, these days, sunk into property in London and New York and retirement schemes in Southeast Asia

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The eight-bedroom, seven-bathroom house Altona on Sydney’s harbourfront was sold to a Chinese businessman for US$54.3 million in 2013, setting a new property record for the city. Picture: AFP
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