"... many rich Chinese to look for a safe haven. Nervous over the fate of their fortunes, some of the country's mega-rich have since booked tickets to Singapore." — The Japan Times
Zhao pointed out that an increasing number of Chinese billionaires are choosing to relocate to Singapore. She shared, “The Chinese billionaires are moving to Singapore because they know the policies in China is not very friendly to a lot of entrepreneurs. The business probably gonna be ultimately owned by the government instead of individuals that’s why a lot of rich people are trying to move to Singapore.
Pearce Cheng, CEO of a company that assists people in relocating to Singapore, shared anecdotes about their extravagant spending habits. He recounted a party where a rare Japanese whisky bottle worth nearly a million dollars was served.