Half of Chinese millionaires want to move abroad, but NYC is not their top destination

2017-07-24
China

As high as half of rich Chinese people are thinking about moving abroad, but New York is not their top destination in the US. The countries most attractive for Chinese people are the US, Canada, UK and Australia. Within the US, Seattle and San Francisco are the most popular cities, and New York ranks the fourth. The top three incentives for Chinese moving abroad are education system, pollution and yuan depreciation. If these three issues are solved, then the primary driving force of Chinese immigrating overseas is eliminated. Worries over yuan depreciation is increasing. In the mean time, China'a capital control has made it more difficult for individuals to move money out, and EB-5 program is facing an uncertain fate. Read more at The Real Deal

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