Forex – Chinese wealthy people are increasingly looking for ways to move their capital outside the mainland to pursue business opportunities rather than simply pursuing investment returns, according to asset managers and advisors.
Ryota Kadogaki, co-founder and global CEO of Japan-based family office consultancy Monolith, said there has been a “very significant” trend in inquiries from Chinese family offices looking to acquire small businesses in Japan this year.
“I am also learning Chinese and I am currently considering hiring Chinese speakers at my company,” Kadogaki said, adding that slow growth in China and a weak Japanese yen are supporting the growing interest.
Mainland investors increased their non-financial direct investment abroad by 16.2% to $83.55 billion from January to July, according to China’s Ministry of Commerce. The investments covered more than 6,100 enterprises in 152 countries and regions, the ministry said.
“A lot of our clients are Chinese-based entrepreneurs who want to be more global. They’re obviously keeping their eyes open to opportunities for their businesses around the world. There’s clearly pressure to slow down in terms of domestic markets for many branches,” Grant Pan, chief investment officer of China-based asset manager Noah Holdings, told CNBC.
https://www.cnbc.com/2024/09/06/chinas-wealthy-are-looking-overseas-for-business-investment.html
