Four Chinese Tycoons Just Transferred $17 Billion to Trusts
- Sunac chair transfers $4.5 billion to trust on New Year’s Eve
- China’s rich rush to protect their wealth as taxes loom
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Four Chinese tycoons transferred more than $17 billion of their wealth into family trusts late last year, underscoring how the rich are scrambling to protect their fortunes from the nation’s newly toughened tax regime.