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China's Rich Rush to Shelter $1 Trillion From New Taxes

Wealthy Chinese are rushing to shelter assets and income in overseas trusts before new tax rules go into effect next month, including provisions that target offshore holdings. The Bank of Singapore has seen a 35 percent surge in Chinese clients interested in offshore trusts since the second half of 2018,…
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China Central Bank Creating ‘Anti-Bitcoin’ to Track Money Transfers

Since February 2018 China has had in place the world’s most restrictive policy regarding cryptocurrencies. No initial coin offerings allowed. Cryptocurrency exchanges shut down. Banks banned from dealing in bitcoin (BTC) and retailers from accepting it. While the government, represented by the People’s Bank of China (PBOC), officially frowns upon …
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Asia's billionaires get ready to retire: who will succeed them?

Asia’s ultra-wealthy business elites are facing their biggest challenge – successfully passing on their hard-earned fortunes to the next generation. There’s an old Chinese proverb that states wealth does not pass three generations. Such a sentiment is set to be put to the test at a time when Asian businesses…
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