China: Billionaires scared of the action of the Chinese government, left China and camped in Singapore

China has recently taken action against several tech billionaires and tax evading celebrities. After which many billionaires of China are going to other countries to save their wealth. Sources told AFP that some of the country's richest men have arrived in Singapore worried about their future.

Many billionaires of China left the country

The rich of China have taken such a step after the recent action. China's billionaires are worried about their future. Due to this, many billionaires from China have left the country continuously. 

Chinese billionaires invest in Singapore

Recently, the presence of Chinese citizens in Singapore has been felt on a large scale. According to media reports, the billionaire who left China has shifted to luxury homes located on Sentosa Island. Which also has a theme park, casino and a prestigious golf club. AIIMS CEO Pierce Cheng said the way they spend money, you cannot imagine. this is madness.

Single party rule in Singapore for last six decades

In fact, Singapore has been ruled by one party for the past six decades and labor strikes and street protests are banned. Not only this, the taxes here are comparatively low and the population is mainly Chinese.

Jack Ma lost $ 25 billion

Relocating to Singapore puts the wealth of China's richest man out of reach of Beijing, whose recent high-profile crackdown has unsettled the billionaire. Jack Ma is one of the most recognizable faces in Asian trading. Who suffered an estimated loss of 25 billion dollars.