富有的中国人在奢侈品上大肆挥霍,却没在新加坡大肆投资|彭博社

  • 当超富裕的中国企业家在2019年开始移居新加坡时,投资公司期待着管理数十亿的新资金。然而,在与中国富豪的会面中,除了基本的托管交易外,很少有新业务。资金经理们将其描述为一个 “大零”。为吸引家庭办公室而改变了免税计划,希望新的资金能够促进投资,创造一波就业。

  • 尽管大量现金涌入新加坡,但资金经理们表示,其中很少有投资于基金或私募股权公司。这是由于新加坡和东南亚的资本市场相对较小,而且新来者对市场不熟悉。与美国的同行相比,亚洲客户一般需要更长的时间来信任货币经理,因为美国有更多的数据和顾问。

  • 总的来说,中国移民的财富正在进入新加坡,但没有以预期的方式进行投资。这导致了一些社会不和谐,因为立法者在向政府寻求答案。理财经理表示,新移民需要时间来适应市场并信任该地区的顾问。

  • 彭博社的文章讨论了中国财富涌入新加坡的情况及其对当地经济和金融业的影响。据估计,新加坡有1400个家族办公室,中国大陆是增长的最大动力。高尔夫会员资格、豪华公寓、零售业和汽车牌照费等奢侈品都因中国买家而价格上涨。

  • 政府已经注意到了这一点,并鼓励更多的投资和互动。新加坡也增加了奢侈品税,并改变了家族办公室寻求免税的条件。经济发展局报告称,由于中国的投资,创造了24,699个不同角色的就业机会。

  • 然而,资本家们正在寻找避免这些措施的方法,例如在瑞士银行的当地许可部门而不是海外部门预订基金购买。当地银行也从管理有钱客户的资金中看到了更低的费用。中国资金的涌入并没有像预期的那样对金融服务行业产生影响。

  • 国家志愿者和慈善中心的首席执行官Melissa Kwee认为,新加坡的富裕中国移民应该更多地帮助当地慈善机构和小企业。这将有助于创造社会凝聚力,缓解新加坡人的怨恨。Kwee建议,这些移民可以与试图走出国门的本地企业合作,而亚洲慈善圈和亚洲风险慈善网正在发起倡议,以吸引中国捐赠者。

  • Crossinvest(亚洲)私人有限公司的首席运营官Lucy W. Gao-Azak认为,随着时间的推移,新加坡的中国移民将引发更多的本地投资。然而,这些投资不会像一些人所希望的那样大,因为投资者不会因为任何区域性的偏见而牺牲回报的表现。

  • Kwee和Gao-Azak都同意,新加坡的中国富裕移民应该做更多的事情来帮助当地的慈善机构和企业。这将有助于创造社会凝聚力,缓解新加坡人的怨恨,并引发更多的本地投资。然而,这些投资不会像一些人希望的那样大。

  • When ultra-wealthy Chinese entrepreneurs started moving to Singapore in 2019, investment firms were expecting to manage billions in new money. However, few of the meetings with Chinese tycoons have resulted in new business beyond basic custodian deals. Money managers have described it as one “big zero.” Tax exemption programs were changed to attract family offices, with the hope that the new money would boost investments and create a wave of employment.

  • Despite the influx of cash to Singapore, money managers say very little of it is being invested in funds or private equity firms. This is due to the capital markets in Singapore and Southeast Asia being relatively small, and the newcomers not being familiar with the market. Asian clients in general take longer to trust money managers compared with counterparts in the US, where more data and advisers are available.

  • Overall, the wealth of Chinese emigres is coming into Singapore, but not being invested in the way that was expected. This has led to some social discord as lawmakers seek answers from the government. Money managers say it will take time for the newcomers to become comfortable with the market and trust advisers in the region.

  • The article discusses the influx of Chinese wealth in Singapore and its effect on the local economy and finance sector. It is estimated that there are 1,400 family offices in Singapore with mainland Chinese being the biggest drivers of growth. Luxury items such as golf memberships, luxury condos, retail sales, and license fees for cars are all increasing in price due to Chinese buyers.

  • The government has taken notice and is encouraging more investment and interactions. Singapore has also increased luxury taxes and changed the conditions for family offices seeking tax exemptions. The Economic Development Board has reported the creation of 24,699 jobs in a range of roles due to Chinese investment.

  • However, capitalists are finding ways to avoid these measures, such as booking fund purchases with the locally-licensed arm of a Swiss bank rather than the overseas unit. Local banks are also seeing lower fees from managing rich clients’ funds. This influx of Chinese money has not had as much of an effect on the financial services sector as expected.

  • Melissa Kwee, CEO of the National Volunteer and Philanthropy Centre, believes that wealthy Chinese immigrants in Singapore should do more to help local charities and small businesses. This will help create social cohesion and alleviate resentment among Singaporeans. Kwee suggests that these immigrants could partner with local businesses trying to go abroad, and the Asian Philanthropy Circle and the Asian Venture Philanthropy Network are launching initiatives to engage Chinese donors.

  • Lucy W. Gao-Azak, Chief Operating Officer of Crossinvest (Asia) Pte, believes that over time, Chinese immigrants in Singapore will spark more local investments. However, these investments will not be as large as some had hoped, as investors will not sacrifice performance of returns for any regional bias.

  • Kwee and Gao-Azak both agree that wealthy Chinese immigrants in Singapore should do more to help local charities and businesses. This will help create social cohesion and alleviate resentment among Singaporeans, as well as spark more local investments. However, these investments will not be as large as some had hoped.

https://www.bloomberg.com/news/newsletters/2023-04-11/rich-chinese-aren-t-yet-investing-in-singapore-the-big-take