Singapore loses China's rich to Hong Kong in family office rush

Singapore loses China's rich to Hong Kong in family office rush

FILE PHOTO: View of the skyline in Singapore January 27, 2023. REUTERS/Caroline Chia/File Photo

Some of China’s wealthy families are turning to Hong Kong as an alternative place to manage their riches as their plans to set up shop in Singapore are slowed by intense scrutiny by the city-state following a massive money laundering bust.