1. Singapore and Chinese mainland signed a CRS agreement, but the exchange didn't land (if it didn't land and sign the contract, it wouldn't collect information from the bank and it wouldn't switch back to the mainland). Some high-net-worth customers don't like their personal information being exchanged back to the mainland overseas, so they choose to open an account in Singapore.

2. At present, Singapore has the most extensive network of free trade agreements in Asia, which facilitates enterprises to enter the international market effectively and conveniently. Major economies that have signed agreements with Singapore include the United States, Japan, China, Australia, New Zealand, the European Union, Jordan, Chile, South Korea, India and Panama.

3. Singapore banks require that the initial deposit and daily deposit balance of accounts are very low, and online banking can be opened in one step, making daily accounts more convenient to use. Compared with other overseas banks, guests can complete all account opening procedures in China without going to Singapore.