Singapore offered Boyu greater distance from potential adverse actions by authorities in Beijing. In addition, part of Boyu's Hong Kong operations were transferred to Shanghai which is where Jiang is based.

Notable deals

In mid-2011, Boyu paid $80 million for a 40% stake in Sunrise Duty Free, a company that runs all duty-free stores at Shanghai and Beijing's international airports. At the time Sunrise was valued at $200 million and by early 2013, bankers valued it at $1.6 billion.

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