The old Asian adage of babies bringing prosperity may have some truth to it. The demographic dividend at play in China and India is likely to help the two Asian giants produce the largest number of rich people by 2025 despite the latter continuing to struggle with containing the COVID-19 pandemic, according to Credit Suisse’s latest Global Wealth Report. “China […]

The post Making babies will help China and India be home to most of world’s rich by 2025: Credit Suisse appeared first on Asian Private Banker.

HSBC has cut the ribbon on its first Jade Centre in mainland China in a bid to not only deepen its relationship with existing HNW clients but also attract new customers in the Greater China region, the bank announced today. The Shanghai-based Jade Centre offers services exclusively to HNW customers, supported by a team of relationship managers, wealth experts, and […]

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This is a sponsored article from Noah Holdings Limited.   China’s emergent wealth management industry has made significant strides over the past decade on the back of rapid wealth creation and the country’s incrementally liberalising economy. Domestically, early movers have amassed considerable scale in a short period of time and are now expanding their footprints by setting down roots in […]

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China’s high net worth (HNW) population rocketed to 1.6 million at the end of 2016, an almost ninefold increase from a decade before, while HNWIs’ investable assets reached CNY 49 trillion, according to a report by China Merchants Bank (CMB) and Bain & Company. According to the report, HNWIs’ investable assets will reach CNY 58 trillion this year. Nearly half […]

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China Minsheng Banking Corporation’s (CMBC) Hong Kong unit will open a new private banking centre on 28 June, as part of the Beijing-based lender’s plans to become one of the five largest Chinese private banks in Hong Kong. The “private bank and wealth management centre” will take up a quarter of a floor at Two IFC, says Peter Hu, MD […]

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Standard Chartered is considering opening an onshore private banking business in China next year to capitalise on the country’s expanding HNW wealth pool, according to the bank’s global head of commercial and private banking clients segments, Anna Mars. “In 2017, we’ll look at it again, see what the market looks like and how [we are] executing on other priorities and […]

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The number of Chinese high net worth individuals granted the UK’s Tier 1 Investor visa fell to just six in Q2 2015 from 102 in the same period last year. It has been very popular among Chinese HNWIs; such approvals hit its peak in Q4 2014 when 254 Chinese applicants applied successfully. This was also during the so-called “Super-bull’ period in […]

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Chinese HNWIs and their penchant for leverage – a key tool to obtaining and retaining relationships from Asia’s largest wealth market – may be receiving an onshore bump as credit analysts look to provide data to lenders to further liberalise the lending environment. “Banks are relying on the state’s credit bureau for now but ultimately, we expect them to depend […]

The post Onshore Chinese set to access even more credit, says global risk solutions firm appeared first on Asian Private Banker.

China’s private banking sector will enter a new era over the next five years as “the pace of financial reform picks up on the mainland and wealth management undergoes rapid development”, says a joint report from China’s Industrial Bank and the Boston Consulting Group (BCG). This ties in with the fact that the number of UHNWIs with over 100 million yuan […]

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