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China’s wealthy swap real estate for insurance, gold as retirement looms (www.scmp.com)

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Since 2020, Li Jiang, a veteran manufacturing entrepreneur from Guangdong, has been selling off his properties one by one – a move that once puzzled many of his friends. For decades, real estate had been the ultimate “anchor” for retirement planning and wealth transfer among China’s high-net-worth families. At his peak, Li concentrated much of his wealth in property, owning seven assets ranging from CBD apartments to high-end suburban villas. These were intended partly for retirement and partly...

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