why china rich is leaving ? 3rd wave of capital outflows and people migration
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Immigration & Investment !
Onshore & Offshore Structures !
蔡⾦金兴!Eric Chua, Cai JinXing !
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