why china rich is leaving ? 3rd wave of capital outflows and people migration

Immigration & Investment !

Onshore & Offshore Structures !

蔡⾦金兴!Eric Chua, Cai JinXing !

eric.cai@asiaharvest.sg!!

Director, Greater China, Asia Harvest Group !Invest SG, Chairman !

Immigration & Investment• Third wave of

Immigration

• Asset Protection is key

• Competition of Global Talents

• Truly a Global Village, connected via technology and air travel

Onshore versus Offshore

• Tax

• Asset Protection

• Cost

• Investment Class

• Expertise for structuring

AP Images

The Difference Between The

Confusing Onshore And Offshore

Renminbi Market

MAMTA BADKAR

FEB. 27, 2013, 10:35 PM

We frequently get

questions about the

difference between the

onshore (CNY) and

offshore (CNH)

renminbi market.

Remember, the offshore

renminbi came about as

China began trying to

internationalize its

currency.

Here is the difference

between the two.

As China began to open

up its economy, it

wanted its currency to be

used in the international market to settle trade and financial transactions, without,

however, fully opening up its capital account.

Hong Kong, which has served as an international hub for mainland China, naturally

happened to be a great place for an offshore renminbi (CNH) market. Singapore,

Taiwan, and London have since developed their own offshore renminbi markets.

It began with the development of personal renminbi banking business in 2004 when

renminbi deposits were allowed in Hong Kong, according to Vanessa Rossi and

William Jackson at Chatham House.

They go on to say, Bank of China (Hong Kong) was designated as the sole offshore

renminbi clearing bank some time in 2004. Renminbi deposits continued to climb,

especially once the bond market was established in 2007. Bonds issued in renminbi

outside the mainland were dubbed dim sum bonds. In 2010, McDonald's became the

Invest SG • Strategic Stakeholders for the

Investment into Singapore Community

• Key focus is for private wealth and family office setting up and based in Singapore

• Singapore is a haven for people and money : Safe, Clean and Strong Law System

• SGD is a strong currency with no govt budget deficit

SGD/RMB = 1/4.86 dated 16/09/2014

SGD/USD = 1/0.8 dated 16/09/2014

“Wealth is the ability to fully experience life” Eric Cai