China’s New Private Banking Industry
Is it safe to invest your money in China’s relatively new Private Banking industry?
You be the judge, but it seems by common concensus that Chinese individuals must have at least in excess of US $1 million to be eligible – according to the arbitrary banking standards; for their Private Bank Wealth Management portfolio service.
So, can you even afford to get in to play the game? It’s your call. It’s quite a steep price.
Also, remember, the recovery in China is far more stable than in just about any other country at the moment.
This may seem disconcerting to some foreign investors as Citi Bank has already stopped their Private Banking division in favour of the retail banking. However, this is a somewhat unbalanced view as StanChart has actually doubled their Private Bank portfolio.
But China may be an uneven playing field – the advantage to the domestic ones who have internet and online services already set up, not available to all the foreign ones.
Read more on this subject…
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