Up to half of China's millionaires considering emigrating for better education, cleaner air and greater stability
A gold-plated Infiniti sports car being tested in Nanjing. China is predicted to become the world's largest luxury goods market by 2020. Photograph: STR/AFP/Getty Images
Sherry Wang misses many things about China. It's taken time to get used to western food, and day-to-day communication is harder; even requesting goods in a convenience store can be a struggle.
But the wealthy entrepreneur has no regrets about her decision to emigrate to North America two years ago.
The education system "makes my son happy every day", she said, by encouraging personal development, in contrast to Chinese schools' rigid focus on grades. And the family no longer fret about the safety of their food.
Wang's choice is part of a much broader trend: China's rich appear to be increasingly keen to go west. Almost half of China's millionaires are considering moving abroad, according to a survey released recently by Hurun – best known for publishing a Chinese rich list – and the Bank of China.
The report found that 46% of the 980 people surveyed had thought about emigrating; 14% had done so already or applied to do so. Most wanted a better education for their children. The findings chimed with research by China Merchants Bank and consultants Bain this spring which suggested that more than a quarter of those with more than 100m yuan (about £10m) had moved abroad and almost half were considering it.
Read more at The Guardian
Comments