China’s ultra-wealthy population, projected to grow by nearly 50% to 144,897 individuals by 2028, is increasingly investing in international assets due to a sluggish domestic economy and a struggling property sector. Despite these challenges, luxury real estate in Shanghai remains a popular investment, driven by recent policy easings and high demand. Wealthy Chinese are diversifying their portfolios, shifting from traditional real estate and domestic stocks to international assets like US and Japanese equities, private equity, and US treasuries. This move reflects a conservative approach to wealth preservation amid economic uncertainties and geopolitical tensions.