Offshore Wealth Trends Among Affluent Chinese: Hong Kong and Singapore Lead as Offshore Wealth Hubs for Affluent Chinese

MDRi has conducted a comprehensive survey in late September 2025 with n=1,000 affluent Chinese travelers from Chinese Mainland who have average liquid assets of RMB 6.9 millions. This survey aims to gauge the growing interest among affluent Chinese consumers in offshore asset allocation and to explore their evolving wealth management behaviors amid a growing interest to internationalize their wealth.

The coverage of this research includes:

1. Offshore Asset Ownership and Preferred Destinations for Their Offshore Accounts Among Affluent Chinese
   1. 50% of affluent Chinese surveyed currently own offshore assets
   2. Top destinations for their offshore accounts are Hong Kong (61%) and Singapore (13%)
2. Offshore Wealth Allocation and Investment Intentions
   1. Affluent Chinese invest 29% of their total liquid asset overseas
   2. 33% intend to increase offshore investment; HNWIs (39%) show stronger intent
   3. 72% prefer Hong Kong for new fund investment
3. Banking Relationship in Hong Kong and Singapore
   1. 50% own offshore account
   2. Among those who owned offshore account, 43% have accounts in Hong Kong and 14% have accounts in Singapore
   3. The average and amount of offshore investment they plan to increase is between RMB 1-2 million
   4. 31% plan to upgrade their basic bank account in Hong Kong to premium tiers, while 35% plan to upgrade their basic bank account in Singapore

1. Offshore Asset Ownership and Preferred Destinations Among Affluent Chinese

Among the affluent Chinese surveyed, 50% currently own offshore assets. (see figure 1)

Hong Kong is their top destination for offshore asset allocation, capturing 61% of total allocations, followed by Singapore at 13% (see figure 2).

Hong Kong’s appeal lies in its status as an international financial center, its wide selection of investment products, its high quality of life and its connection between mainland and the international market. HNWIs particularly value Hong Kong’s professional wealth management services and its legal system. (See figure 3)

Singapore’s strengths include its financial center status, diverse investment product offerings, and transparent regulatory framework. HNWIs also appreciate Singapore’s wealth management services, quality of life, and favorable tax policies. (See figure 4)

2. Offshore Wealth Allocation and Investment Intentions

Affluent Chinese interviewed in this survey owned 6.9 million RMB liquid asset on average. For those who invested overseas, they allocate 29% of their wealth overseas. HNWIs allocate a greater proportion (37%) of their wealth overseas (see figure 5).

Furthermore, 33% of affluent Chinese plan to increase their offshore asset allocation (see figure 6). HNWIs (39%) show a stronger preference to expand their overseas holdings.

The growing preference for offshore assets reflects a maturing among Mainland Chinese affluent banking consumer and their desire to grow their wealth internationally. Higher offshore allocations among HNWIs suggest a sophisticated understanding of risk management and the importance of geographic diversification in their investment portfolios.

In terms of preferences on new fund investment, affluent Chinese investors prefer Hong Kong for their new fund investment. 72% of affluent Chinese plan to allocate new funds in Hong Kong. On average, they intend to invest over 1 million RMB, while HNWIs plan to invest up to 2 million RMB in Hong Kong. (See figure 7)

3. Banking Relationship in Hong Kong and Singapore

Half of the affluent Chinese surveyed own at least one offshore bank account, with HNWIs showing a higher ownership rate at 55% (see figure 8). Among those with offshore accounts, 43% have accounts in Hong Kong, followed by 17% in Singapore. Additionally, 48% of all respondents plan to open offshore bank accounts, with 15% targeting Hong Kong and 14% Singapore. (See figure 9)

Among those who own bank accounts in Hong Kong, 31% of them with basic accounts plan to upgrade to premium or higher-tier accounts in Hong Kong (see figure 10). In Singapore, among those with basic accounts, 35% plan to upgrade to premium or higher-tier accounts (see figure 11).

Conclusion

This survey clearly demonstrates that Hong Kong and Singapore continue to be the preferred destinations for offshore wealth management among affluent Chinese consumers, driven by their sophisticated financial ecosystems, global connectivity, and robust regulatory environments. With half of respondents already owning offshore assets and a third planning to further increase their international allocations, regional banks and wealth managers can expect heightened demand for premium products and personalized services in the coming year.​

As Chinese HNWIs’ appetite for global diversification intensifies, both Hong Kong and Singapore are well-positioned to capture a larger share of new fund inflows, especially as investors seek the quality, stability, and strategic support offered by these financial powerhouses. Financial institutions that invest in tailored experiences and cross-border solutions will be best equipped to serve this maturing clientele and earn long-term loyalty in Asia’s evolving offshore wealth landscape.

Note:
Asset group in this article is defined into below 4 groups: