As China's rich grow in numbers, so do their mobile aspirations

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Despite the global financial crisis, China's rich are getting richer. "As of April this year, China has 960,000 millionaires with personal assets of 10 million yuan (US$1.5 million)," says Rupert Hoogewerf, chairman of the Hurun Research Institute, which compiles China's rich list.

"It has 60,000 super-rich with 100 million yuan assets, and their numbers keep growing," he says. The newly affluent are getting more outwardly mobile, too.
Nearly half of them are thinking of emigrating overseas, according to a Hurun Research Institute report. About 14 per cent of them have or are in the process of applying for emigration, it said.

"In Chinese, emigration refers also to getting a permanent residency, or a 'green card'," Hoogewerf explains. "We estimate this to make up 80% of the total who want to 'emigrate'."




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