A China Eastern Airlines plane and a Shanghai Airlines plane are seen in Hongqiao Airport in Shanghai, on June 4, 2020. File photo: Aly Song, Reuters.
China’s wealthy are concerned about their dwindling assets and many are looking to relocate abroad, the South China Morning Post reported on Wednesday, noting research from the Hurun Report Research Institute which said a survey early this year found that a third of 750 high het-worth Chinese with average assets of $5.8 million were considering emigrating.
Immigration consultants said anxiety is spreading among China’s rich over the policy direction Xi Jinping’s government after they lost assets in the slumping real estate market and repeated Covid lockdowns, said the report, adding that they were assessing residency or citizenship schemes in countries such as Portugal, Grenada, Greece, Malta, St Kitts and Nevis, plus Dominica, but experts had advised that moving their wealth abroad could be difficult.
Read the full report: South China Morning Post.
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