China’s wealthy want to move overseas

Almost half of wealthy people in China want to leave to live in another country as they don’t like the system in their own country, especially the country’s one child policy.

They also want to get away from high living costs, a weak legal system, pollution, corruption, food safety concerns and poor medical treatment.

But it is education that is the driving force to up sticks and leave with 60% wanting to move abroad so that their children can get a better education, a survey by the Bank of China and the Hurun Report has found. Some 14% have already left the country of filed immigration applications.

Rupert Hoogewerf, founder and publisher of the Hurun Report, said respondents with assets of 100 million or more were even more inclined to emigrate, with 55% considering leaving China, and 21% already living overseas or having filed applications.