Most of Chinese millionaires want to emigrate

More than half of the richest Chinese are planning to leave the country to settle in preference to the United States and Canada. Said a survey conducted by the authors of Hurun report that presents annual list of richest people in the second world economy.

About 46% of Chinese whose assets exceed 10 million yuan are considering a departure abroad, while 14% have already initiated steps towards this direction, according to the survey conducted jointly by the Bank of China and Hurun Report, a company that publishes magazines on luxury market and operates a research institute.

First invest, then immigrate

Most of the 980 respondents in 18 Chinese cities have cited the desire to offer a better education for their children and the safety of their property among the reasons that lead them to want to leave China. Nearly a third of them said they had made investments abroad, in many cases to facilitate the process of immigration.

Some countries like Canada and Australia provide facilities for a residence permit to foreigners who invest heavily in the country. While the inflation in China, which erodes savings, and the difficulties to invest abroad are also frequently cited by the potential immigrants.

According to the latest list published by Hurun for the year 2011, China has 271 billionaires, against 189 a year earlier, while the number of Chinese whose fortune exceeds 10 million yuan has reached 960,000, up 9.7% year on year. Most of Chinese fortunes were made ​​through the real estate sector or in retail and trade business.