Friday, March 01, 2013

Now also China's middle class invests abroad - Wei Gu

Wei Gu
Wei Gu
Most wealthy Chinese have already bought themselves a foreign passport and properties, but now the higher middle-class is moving part of their assets abroad, tells WSJ wealth editor Wei Gu. And although Chinese restricts exporting capital abroad, Chinese find enough loopholes.

The annual limitation per person can be circumvented by using ten relatives, explains Wei Gu. "Or there are underground companies to do so." In Wenzhou the central government is now experimenting with a more liberal financial regime.

Wei Gu is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

Europe, including Spain, Portugal, Greece and Ireland, is one of the favorite places for Chinese to go to, because of many distressed assets, caused by the financial crisis. In the China Weekly Hangout earlier in February we discussed the strategy by EU-member Cyprus for getting Chinese investors in, with Cypriotic business manager Pol Panayiotides.
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