Global Chinese Wealth Spurs Bank Race in Hong Kong and Singapore

Global Chinese wealth is emerging as a critical growth driver for banks in Hong Kong and Singapore, according to a new report from consultancy Oliver Wyman. The study estimates that this segment, defined as global investors with roots in China, could account for up to 30% of net new money for the two hubs. Offshore Chinese wealth is increasingly flowing into life insurance, ETFs, private markets and alternative structures. China leads Asia Pacific with USD39.23tr of investable personal financial assets, far ahead of Japan’s USD6.52tr, with nearly 53% held by high-net-worth and ultra-high-net-worth individuals. Analysts said this concentration highlights the growing influence of Chinese investors across Asia’s wealth management landscape.