Re:Alibaba founder Jack Ma steps out from shadows with long ...
by maxglute on Wednesday April 10, 2024 @04:52AM
(#39988462)
And? They can financial engineer a few 100 million out of country and have generational wealth stashed abroad or be a boring billinoaire in PRC. Flashing extravagant lavishness is frowned upon, maybe settle for a 300 ft yacht instead of a 600ft mega yacht like a RU oligarch or Arab crown prince. They're billionaires they can get pretty much what they want, not upper-middle class family from tier1 city trying to figure out how to wire >50kUSD to pay their kids rent and tuition.
Re:Alibaba founder Jack Ma steps out from shadows with long ...
by seanmcdirmid on Wednesday April 10, 2024 @11:05PM
(#39998025)
Chinese transferring wealth out of China to buy American and Canadian real estate is actually a popular way of protecting themselves and laundering money from non-legit enterprises in the mainland.
In the USA you can transfer it out of the country if you want to.
https://www.scmp.com/business/china-business/article/3212414...
https://www.smh.com.au/business/the-economy/china-s-rich-are...
https://www.rfa.org/english/news/china/china-banks-waits-072...
https://harris-sliwoski.com/chinalawblog/getting-money-out-o...
https://www.afr.com/world/asia/smurfing-strangers-how-china-...
https://agbrief.com/news/china/24/01/2024/china-tightens-con...
https://www.uschina.org/china%E2%80%99s-capital-controls-cho...
https://www.ft.com/chinese-capital-controls