Concerned about China’s worsening political climate and its economic repercussions, wealthy Chinese are accelerating the process of emigration and transferring of assets overseas. Henley & Partners, an investment immigration consultancy based in London, estimates that about 10,000 high-net-worth Chinese—with assets of more than $1 million each—will immigrate abroad in 2022. They will take with them…
China’s Wealthy Rush to Transfer Assets and Emigrate as Political and Economic Situation Worsens
Beijing Beckons to Li Ka-shing as International Capital Moving Away From China
Commentary The family company of Hong Kong’s richest man Li Ka-shing recently sold a large amount of European assets. His investments have always been an economic bellwether. At this time, the confrontation between the United States and China has intensified, Chinese stocks and the Chinese stock market have seen ups and downs, and international capital…
Beijing’s Strong Regulation Can’t Stop Chinese Capital Outflow, US Ultimately Benefits
China has had a long-standing problem of cash leaving the country. Much of the outflow is the result of corrupt officials transferring state-owned assets overseas. Last month, China’s central bank released a report on monetary policy that says stronger supervision has been implemented. But China experts doubt that it can prevent the ongoing flight of…
China Uncovered First Case of Underground Bank Using Game Time Cards
The Chinese Communist Party’s (CCP) strict controls on foreign exchange have led to a proliferation of underground banks. Shanghai police recently cracked the first case of an underground bank selling game time cards (GTC) as a cover for illegal currency exchange. In six years, the underground bank has transferred $3.75 billion. According to Chinese media…
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