China Herald: Rich migrate less from China

Rupert Hoogewerf

For years the trend seemed irreversible: China´s rich were leaving the motherland in troves. But in 2017 the trend has reversed, says Hurun China rich list composer Rupert Hoogewerf to the South China Morning Post. This year could be a turning point, Hoogewerf says about the findings in the Hurun Chinese Luxury Consumer Survey 2017.

The South China Morning Post.

The proportion of mainland millionaires who say they won’t emigrate has risen for a third straight year to reach a record high, even as a majority say they would like to move to another country, according to a report on Thursday.

About 44.5 per cent of mainland millionaires with personal wealth of more than 10 million yuan, are not planning to emigrate, according to Hurun Chinese Luxury Consumer Survey 2017.

“The year of 2017 could be a turning point,” said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report. “The proportion of respondents considering emigration is reflecting stronger confidence.”

Still, almost half of those polled said they are considering emigrating as an option, though the figure is down from about 60 per cent in 2008.

More in the South China Morning Post.

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