The son of a former mainland Chinese official has been remanded in custody in Hong Kong pending sentence for laundering more than HK$64 million, including a 4 million yuan bribe his father allegedly sought from a merchant a decade ago. Xiao Rui, 37, will also be penalised for using bogus bank records to deceive the…
From Sydney to Hong Kong, wealth migration is reshaping the global super-luxury property market as activity picks up after two subdued years – though the dominance of relative newcomer Dubai is now being tested by the war in the Middle East. In Sydney, Peter Li, general manager at Plus Agency, said commission revenues on super-luxury…
Shareholders of mainland Chinese companies are showing increasing interest in setting up family offices in Hong Kong after their initial public offerings amid a swelling pipeline of new listings in the city, according to an asset manager overseeing up to US$2 billion in wealth. “This week alone, I have met two clients inquiring about family…
Sales of villas, bungalows and luxury homes in Hong Kong soared to a three-year high in the first six months of this year, as an influx of wealthy immigrants fuelled the hunt for bargains on the top end of one of Asia’s priciest residential property markets. There were 286 registered transactions of villas in the…
Sales of villas, bungalows and luxury homes in Hong Kong soared to a three-year high in the first six months of this year, as an influx of wealthy immigrants fuelled the hunt for bargains on the top end of one of Asia’s priciest residential property markets. There were 286 registered transactions of villas in the…