Yangtze Evening News recently reported that 27 percent of Chinese company owners having over RMB 100 million yuan (around US$16 million) worth of private property have completed the processes of emigrating to foreign countries. The statistics are based on a research report jointly issued by the Merchants Bank and Bain Consulting. Forty-seven percent of the same sample are considering the emigration option. The main reasons given for the decision to emigrate are the children’s education, retirement planning, and risk management for their wealth. The report expressed the concern that this new wave of emigration is coupled with a massive outflow of capital from China to the outside world, which may damage the effort to expand China’s domestic consumer market.
Source: Yangtze Evening News, November 30, 2012