The Big Take
Xi’s Crackdowns Drive Chinese Billionaires to Booming Singapore
- More Bentleys, rising home prices are signs of Chinese influx
- Party Congress moves may hasten departures by wealthy Chinese
Marina Bay in Singapore.
Photographer: Lauryn Ishak/BloombergThis article is for subscribers only.
One of the hottest wine bars for Chinese billionaires isn’t atop a Shanghai office tower or within a Beijing courtyard house. It’s in a modest black-and-white bungalow next to a six-lane thruway in the heart of Singapore.
After stepping past the reception desk with its wall of wine bottles, visitors enter a two-story den of rattan-backed chairs and tables where bankers and crypto-entrepreneurs gather. The truly connected are escorted down a garden path, past recreations of Terracotta Warriors to a pavilion with statues of cranes standing on turtles, symbols of longevity in Chinese culture.