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About Half of China’s Multimillionaires Seek to Emigrate Overseas

On October 30, 2011, China Gate published a news report originally from Guangzhou Daily titled “About Half of China’s Multimillionaires Seek to Emigrate Overseas. What Do They Fear?”

More than half of China’s families who are worth over 10 million Yuan (US $1,579,957.17) have either emigrated abroad already, are in the process of applying, or are considering leaving China for a better life and for a better education for their children.

According to the “2011 China Private Wealth Management White Paper” recently released by the Hoogewerf Research Institute and China Bank’s Private Banking Group, one-third of wealthy Chinese already have assets overseas and almost 30% of the wealthy Chinese who currently do not have any assets overseas are planning to invest abroad within the next 3 years, mainly for their children’s education and for the purpose of emigration.  Among China’s multimillionaires, 14 percent have already emigrated or applied for emigration and 46 percent are considering emigrating overseas.

Source: China Gate, October 30, 2011