Chinese people overseas - Statistics & Facts
Following the United States, China (including Hong Kong) ranks second in the number of ultra-high net worth individuals (HNWI) with a net worth of 30 million U.S. dollars and more. Although their quick wealth accumulation owes mainly to China’s economic prosperity in the last decades, many rich people from China are considering making more overseas investment, transferring their wealth abroad or even emigrating to another country. “Going abroad” is not only a motto of Chinese enterprises suffering from China’s economic slowdown, but also many Chinese rich people.
Severe pollution in big cities, education environment with endless competition, RMB depreciation…… there are various reasons why the rich Chinese want to leave their motherland. Among all these motivations, to provide their next generation with better education and opportunities became the most popular one. Different from their parents who might even hardly speak English, the children of the HNWIs already get international education when they are in China and are expected to become talents with global horizon.
As an important part of their wealth management, overseas investment is exploited by Chinese HNWIs to balance the risks from strict regulated domestic investment market. In the overseas investment market, investors could have a wider variety of financial products to choose from. Benefiting from the dramatic growth of the domestic real estate market in the past decades, many Chinese are also seeking opportunities in the overseas real estate market. Since they are not familiar with the capital market abroad, many HNWIs search for professionals like private banks to help them manage their overseas wealth. And Hong Kong is popular for such business due to its location and special legal regulations.
For those who are considering if they want to move with the whole family abroad, an outbound journey should be their first step to know more about the world. The outbound tourism market is booming in China. Among the overseas travel destinations, European countries are still the most visited overseas destinations by China’s HNWIs. Since many HNWIs from China have their main business in China, they buy real estate properties overseas and only spend long holidays there.
Severe pollution in big cities, education environment with endless competition, RMB depreciation…… there are various reasons why the rich Chinese want to leave their motherland. Among all these motivations, to provide their next generation with better education and opportunities became the most popular one. Different from their parents who might even hardly speak English, the children of the HNWIs already get international education when they are in China and are expected to become talents with global horizon.
As an important part of their wealth management, overseas investment is exploited by Chinese HNWIs to balance the risks from strict regulated domestic investment market. In the overseas investment market, investors could have a wider variety of financial products to choose from. Benefiting from the dramatic growth of the domestic real estate market in the past decades, many Chinese are also seeking opportunities in the overseas real estate market. Since they are not familiar with the capital market abroad, many HNWIs search for professionals like private banks to help them manage their overseas wealth. And Hong Kong is popular for such business due to its location and special legal regulations.
For those who are considering if they want to move with the whole family abroad, an outbound journey should be their first step to know more about the world. The outbound tourism market is booming in China. Among the overseas travel destinations, European countries are still the most visited overseas destinations by China’s HNWIs. Since many HNWIs from China have their main business in China, they buy real estate properties overseas and only spend long holidays there.
