China slowdown-hit companies diversify into family office services

Hong Kong property broker, computer trader tap rising demand for wealth protection

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Hong Kong property broker Centaline's mainland business has been "heavily impacted" by China's real estate slump. But it has high hopes for its new family office operations. © Reuters

ECHO WONG and PEGGY YE, Nikkei staff writers

HONG KONG -- Chinese and Hong Kong companies suffering from the slowdown in the world's second-largest economy are seeking to turn the headwinds to their advantage by setting up family office-style businesses.

These players see a chance to create new revenue streams as rich Chinese increasingly look to protect their assets, although over the longer term some warn that China's declining population will eventually constrain wealth creation.

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