China Power: ‘Win-win’ for local economy, Beijing’s influence as Southeast Asia attracts more Chinese retirees?

The resort’s general manager Jimmy Qu, a Chinese Canadian managing the property for his 73-year-old father, told CNA that the estate was owned by four stakeholders, two of whom are Chinese and hold minority shares. 

Business reflects a growing demand for Chinese retirees, Qu said. “Chiang Mai boasts many healthcare services for elderly requiring nursing care, yet a dedicated health and wellness hotel remains rare.” 

PERCEPTIONS OF CHINA 

With its significant Malaysian Chinese population, Penang is home to a sizable number of Chinese retirees who enjoy the island’s affordable property prices and diverse food scene.

Many like Grace Ng, a retired financial planner from Hong Kong, said they feel at home among the local Chinese-speaking communities.

She has recently invested in property along Batu Ferringhi Beach, valued at around HK$2.2 million (US$283,050).

“We love the tropical climate and there are many Chinese here,” Ng told CNA, adding that Penang’s high healthcare standards and rich cultural scene have also made the transition smoother for her. 

Malaysian property agents have also welcomed the new Chinese arrivals.

“Collaborating with them is a win-win situation for us,” said Shawn Hong, a property negotiator in Penang who has worked with several Chinese brokers and buyers.

“We know Penang and the local market well so we help and assist them and show their clients properties that match their requirements to get successful deals.”