More and more wealthy Chinese are worried about keeping their money on the mainland and see Singapore as a safe haven.
The trend appeared to pick up last year after Beijing's sudden crackdown on the education industry and emphasis on "common prosperity" — moderate wealth for all, rather than just a few.
That's according to CNBC's interviews with firms in Singapore that are helping wealthy Chinese move their assets to the city-state via the family office structure. [Wealthy Chinese] believe there are plenty of opportunities to make a fortune in China, but they are not sure whether it is safe for them to park money there.About 50 of her clients have opened family offices in Singapore — each with at least $10 million in assets, Xu said.
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