China’s new wealthy take tips from the West
Wealthy Asians in China and elsewhere are recognising the need to properly manage and pass on their money, and are receiving advice from Western families, notes Scorpio Partnership.
It has been almost 30 years since Deng Xiaoping began the process of liberalisation that has stimulated tremendous economic growth in China and an explosion of new wealth creation. There are now an estimated 635,000 individuals in China with assets of over Rmb100 million ($15.9 million) according to a late-March report from the Hurun Research Institute.
This generation of entrepreneurs that have grown up amid the expansion are now reaching an age where they must contemplate the ch…
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