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Photo: Reuters By Courtesy of Charlotte SoBOC Aviation, the largest aircraft leasing company in Asia, is lobbying the Shanghai government to relax restrictions on offshore financing in the free-trade zone.The initiative would facilitate the city in becoming an Asian aircraft finance hub, with the yuan establishing itself as a major settling currency for acquisitions.The plan, if approved, is expected to attract more aircraft financing companies to the 28 kilometers of land set aside for the zone in Shanghai. "We have spoken to senior officials in Shanghai about how to stimulate offshore financing for aircraft," said Phang Thim Fatt, deputy managing...

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Photo By Asia Outbound By Asia Outbound Asia Outbound summit series has made another milestone success by hosting another Shanghai Summit at the Ritz Carlton, Pudong, on Nov. 6th and 7th this year. The wealth management industry is continuously looking towards new frontiers and opportunities and for those wishing to stay ahead, China represents a strategic necessity. With this unprecedented growth in the country, China has a strong demand for global expertise to help manage wealth. Combining panel discussions, workshops and presentations, Asia Outbound Summit will reveal reasons behind the new and rapid expansion of Chinese outbound investments and strategies...

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Photo By Courtesy of CNBC By Courtesy of CNBC A new report shows that 64 percent of Chinese millionaires have either emigrated or plan to emigrate aking their spending and fortunes with them. The United States is their favorite destination. The report from Hurun, a wealth research firm that focuses on China, said that one-third of China's super rich r those worth $16 million or more ave already emigrated. The data offer the latest snapshot of China's worrying wealth flight, with massive numbers of rich Chinese taking their families and fortunes overseas. Previous studies show the main reasons rich Chinese are...

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Photo By Philips Wong By Courtesy of LowTax.net In order to further strengthen relations in financial services between Dubai, Hong Kong and Asia, the Chairman of the Dubai Financial Services Authority (DFSA), Mr Saeb Eigner, delivered an address in Hong Kong on the opening morning of the seventh Asian Financial Forum. The forum was attended by 2,400 delegates from Asia, Europe and America, where finance ministers, central bankers, heads of governments and business leaders gathered to discuss economic developments and business trends in China and the rest of Asia, the DFSA announced. The forum focused on the challenges and opportunities...

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Photo By: GBTimes Hong Kong's Secretary for Financial Services and the Treasury, K C Chan, believes that there are tremendous opportunities ahead for Hong Kong's financial center as China continues to liberalize its currency, the renminbi (RMB). In remarks at a seminar held by the London Business School, Chan observed that Hong Kong has already been playing a "key role" in the RMB liberalization process, noting that the offshore RMB market was effectively born in Hong Kong in 2003. "The combined value of deposits and certificates of deposits in Hong Kong is about RMB1.1 trillion (USD180bn) at the end of...

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Photo by Rosanne Wong By Guernsey IFC The new Guernsey-based Channel Islands aircraft registry went live yesterday (9 December, 2013). The Channel Islands aircraft registry is the official aircraft registry of the Guernsey Government. It is the first to be established in the Channel Islands. Fiona Le Poidevin, Chief Executive of Guernsey Finance the promotional agency for the Island finance industry, said: his is yet another landmark day for Guernsey finance industry. In the last 12 months we have seen the development of the world first image rights law and register, the introduction of Guernsey Foundations and now Guernsey has...

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Photo By Zap Photos By Courtesy of LowTax.net The first half of 2013 saw an increase in new offshore company registrations compared to the same period of last year, according to Appleby, a provider of offshore legal, fiduciary and administration services.From January to June of 2013 there were 38,416 new incorporations, according to Appleby's On the Register report.The local registers of most offshore jurisdictions have swelled since the end of 2012, despite a slight drop in new registrations in the offshore region as a whole compared with the previous six-month period, since the number of firms de-registering has declined. The...

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Photo by Courtesy of CNBC By Courtesy of Dhara Ranasinghe The Singapore Exchange and Hong Kong Exchanges and Clearing on Wednesday (Dec. 4) signed a deal to co-operate on a number of areas that include promoting the internationalization of the Chinese yuan. The move reflects the growing importance of the Chinese currency, also known as the renminbi, in international trade and finance. In a statement, the two exchanges said the co-operation would also focus on collaborating on technology development and regulatory issues.Charles Li, CEO of the Hong Kong Exchanges and Clearing (HKEx), and Singapore Exchange CEO Magnus Becker signed a memorandum of...

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