HONG KONG — One of China’s top wealth managers is expanding into Japan, where it sees a growing clientele of rich Chinese who have left their homeland in challenging economic times.
Noah Holdings says it has more than 10,000 clients with more than 5 million yuan ($688,000) in net assets overall. But with the Chinese economy beset by a yet-to-bottom-out crisis in the property market — which accounts for a majority of Chinese wealth — the manager’s mainland revenue declined for three consecutive quarters this year, compared with 2023.
