This is where Chinese millionaires want to move
The US retained its title as the top destination for rich Chinese emigrants for a third consecutive year, while Canada surpassed the UK, becoming the second-most popular choice for the first time ever, according to a survey by research firm Hurun Report and Visas Consulting Group.
Los Angeles, Seattle, San Francisco and New York were the top global cities for immigration and property investment among Chinese millionaired. However, U.S. cities “have seen a fall in favor” since President Trump took office, as the report states.
Wealthy Chinese cite a number of reasons for wanting to live abroad, according to CNN. More than half of the respondents listed “living environment” or “ideal living environment” as their main motivation for moving.
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“Many Chinese are still not satisfied with [the] local environment,” said David Chen, a lawyer with Visas Consulting Group. China’s currency is a growing concern as well. A whopping 84% of respondents – a growth of 50% over last year – said they worry about the devaluation of the yuan, which fell to its lowest level in eight years in November 2016.
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