Chinese continue to prefer western hubs over Singapore for offshore banking

28 May 2015 | 2 minutes read

Despite the opening of desks in Singapore to service Chinese HNWIs at various private banks, the city-state continues to lag behind western nations when it comes to capturing offshore wealth. According to a recent report jointly produced by Bain & Company and China Merchants Bank, 15% of respondents selected Singapore as the preferred overseas destination for private banking, trailing behind…

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