Goldman Sachs Predicts Strong Growth in Offshore Wealth Management Despite China's Oversight

Goldman Sachs has expressed a positive outlook for offshore wealth management, undeterred by concerns regarding China's increasing scrutiny of cross-border financial activities.

The investment firm anticipates a significant rise in wealth fee income for major banks, predicting a 30% increase for Standard Chartered and a 13% rise for HSBC by 2026. Additionally, they forecast growth of 16% to 25% for banks in Singapore.

According to Goldman Sachs, the primary motivations behind Chinese clients' offshore wealth allocation are diversification and access to a wider range of investment opportunities.

Source: www.scmp.com