Half of China's millionaires are thinking about migrating

HALF of China's millionaires are considering or planning to emigrate as they are not satisfied with what their fortunes can afford them in the country.
A survey conducted by the Hurun Report in partnership with Visas Consulting Group has found that China's wealthiest citizens, those with a net worth of over US$1.5 million, are not satisfied with the quality of life in their homeland.
The top reasons the wealthy cited for wanting to leave the country were for education (76%) and living environment (64%). Pollution is also a major concern.
"Education and pollution are driving China's rich to emigrate. If China can solve these issues, then the primary incentive to emigrate will have been taken away," Rupert Hoogewerf, chairman and chief researcher at the Hurun Report, said.
Eighty-four percent of respondents also said they are concerned about the Chinese yuan losing value. The yuan fell to an eight-year low last fall, before recovering somewhat this year.
The US is the most popular destination for Chinese emigrants. The affluent migrants prefer cities like Los Angeles, Seattle, San Francisco, and New York. Canada is their second-most popular destination, then the UK and Australia.