Singapore's reputation as a safe harbor for wealthy mainland Chinese families is fading, reversing an inflow that came at the expense of rival wealth hubs like Hong Kong and Japan. Its allure for China's wealthy surged after 2019, when a wave of pro-democracy protests in Hong Kong led to a clampdown by Beijing and the introduction of a national security law the next year. These events pushed mainland Chinese families in Hong Kong to seek distance from Beijing's grip. Political stability, a favorable family-office regime, independent courts, and Mandarin fluency made Singapore a natural draw for China's super-rich. In the wake of a 3 billion Singapore dollar ($2.3 billion) money-laundering scandal in 2023 — dubbed the "Fujian case" where the culprits hailed from — Singapore's regulators and

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