Nearly half of China’s millionaires consider emigration

November 1st, 2011 - 1:24 pm ICT by IANS  

Beijing, Nov 1 (IANS) Nearly half of Chinese millionaires consider emigrating abroad and 14 percent have already emigrated or applied for it, a survey showed.

Forty-six percent of the 980 respondents said they intended to emigrate in the survey jointly conducted by the Hurun Research Institute and Bank of China from May to September. The survey findings have been published in the Private Banking White Paper 2011.

The survey targeted China’s “high net worth individuals” with personal asset above 10 million yuan ($1.58 million) in 18 major cities including Beijing, Shanghai, Wuhan, Nanjing, Dalian and Suzhou, reported Xinhua.

The average age of the respondents was 42, with personal assets worth more than 60 million yuan on an average.

According to the survey, one-third of the respondents claimed to have overseas assets, mostly in real estate, accounting for 19 percent of their total investable assets.

Half of the respondents said the reason why they invested abroad was to give their children better education opportunities.

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