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China Ranked Number One on Wealthy Population Leaving the Country

Well-known Chinese news site Sohu recently published a report based on multiple studies done on wealthy Chinese leaving the country. According to research that Shanghai Hurun conducted in 2017, 46 percent of wealthy Chinese with income between RMB 10 million (around US$1.57 million) and 200 million (around US$31.3 million) have considered leaving the country. Another research report that New World Wealth published also showed, in 2017, that around 10,000 wealthy Chinese (net worth above US$1 million) moved overseas, making China the country that had the largest number of wealthy people leaving. The most popular destinations for these Chinese are the United States, Australia, and Canada. In the past three years, Australia has been the most popular destination. Among the key drivers for people to leave, a better education for their children and China’s high real estate cost sat at the top.

Source: Sohu, May 19, 2018