The strict Covid-19 policies that the Chinese government had imposed is having significant consequences. More and more wealth Chinese are looking to leave China and move to more stable countries such as USA, Canada, UK, Singapore etc. In 2022 about 10,800 rich Chinese, who have an average wealth of US$6m, left China. Data shows that the outflow of rich Chinese is continuing to accelerate.
Read all the details here in The Economist.