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Jersey Report Looks At Priorities For China's Wealthy

by Jason Gorringe, Lowtax.net, London
25 October, 2016

Jersey's financial services promotion agency, Jersey Finance, has released a report on the investment priorities of Chinese high-net-worth (HNWIs) and ultra-high-net-worth (UHNWIs) individuals.

The report, "The Internationalization of Chinese Wealth – 2016," presents the views of over 50 practitioners working in the wealth management industry in Hong Kong and Singapore. It shows that China's HNWIs and UHNWIs are increasingly looking for greater diversification, protection, and portfolio growth.

The report identifies estate and inheritance taxes and global drive towards tax transparency as being among the biggest and most pressing risks for Chinese HNWIs and UHNWIs. According to the report, Chinese individuals see overseas investments as a way to achieve higher returns through access to a broader selection of products and services than would be available domestically, the report says.

Richard Corrigan, Interim Director of Financial Services for the Government of Jersey, said: "As China's HNWIs and UHNWIs take an increasingly active role in their own investments, there are signs that more of them are entrusting a larger share to wealth professionals, both domestically and through international finance centers (IFCs), especially in the current volatile environment. We believe there is a stronger need for first-class IFCs and financial practitioners to provide a full suite of wealth management services, including estate and wealth planning, corporate finance, and real estate to serve the needs of Chinese wealthy individuals."

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