From CNBC: 2024-09-05 21:06:58

C-suite executives in China are turning to business jets, opening new service centers like ExecuJet Haite at Beijing Daxing Airport on Aug. 27, 2024. Wealthy Chinese seek international business opportunities, driving a 16.2% increase in non-financial direct investments overseas to $83.55 billion from January to July 2024.

Chinese family offices show significant interest in buying small Japanese businesses due to slower growth in China and a weaker Japanese yen. Investors increase non-financial direct investments overseas by 16.2% to $83.55 billion from January to July, covering 6,100 businesses in 152 countries and regions.

Noah Holdings reports its number of overseas registered clients rose by 23% to nearly 16,800 as of June while mainland China assets under management fell over 6% to $15.8 billion. Overseas assets under management rose almost 15% to $5.4 billion from a year earlier.

Chinese clients now show more rational interest in moving wealth abroad for global business opportunities. Wealthy Chinese entrepreneurs seek business development in Hong Kong, Singapore, and Japan while exploring global markets with private international travel and acquisitions. ExecuJet Haite opens a service center at Beijing Daxing Airport to cater to this demand.

Slower growth in China prompts affluent Chinese to explore global business opportunities. More Chinese entrepreneurs are setting up offices and residences in Hong Kong, Singapore, or Japan for proximity to China operations. Interest in tapping global markets has led to increased private international travel and acquisitions by wealthy Chinese.

Read more: China’s wealthy are looking overseas for business investment