Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

China’s HNWIs concerned about environment, yuan strength: report

China’s HNWIs concerned about environment, yuan strength: report

Eighty-four per cent of China’s high net worth individuals are worried about the devaluation of the yuan, according to a survey by the Hurun Report and Visas Consulting Group, which also found that China’s wealthy individuals are increasingly concerned about the country’s environment.

The yuan lost 6.5% of its value against the dollar last year, but has strengthened slightly in 2017 thanks to central bank support.

Hurun’s research found that fewer HNWIs in China are looking to emigrate, but that those who are are increasingly motivated by a desire to find a better living environment, a reaction to the country’s pollution challenges. Education remains the primary reason that Chinese HNWIs look to emigrate.

The United States is the most popular destination for the country’s wealthy ‘investment emigrants’ for the third year running, while Canada overtook the UK in second place. The West Coast of the US is the most attractive investment destination for Chinese buyers, the report found.

‘Education and pollution are driving China’s rich to emigrate,’ Rupert Hoogewerf, chairman and chief researcher of Hurun Report said in a statement accompanying the report’s release. ‘If China can solve these issues, then the primary incentive to emigrate will have been taken away.’

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Asia Bangkok Retreat 2018: day one images

    Citywire Asia Bangkok Retreat 2018: day one images

  • Citywire Asia Bangkok Retreat 2018: day two images

    Citywire Asia Bangkok Retreat 2018: day two images

  • Citywire Asia Taipei Retreat 2017: day two images

    Citywire Asia Taipei Retreat 2017: day two images

  • Citywire Asia Bangkok Retreat 2017: day one images

    Citywire Asia Bangkok Retreat 2017: day one images

  • Citywire Asia Bangkok Retreat 2017: day two images

    Citywire Asia Bangkok Retreat 2017: day two images

  • Images from Citywire Thailand Forum 2017

    Images from Citywire Thailand Forum 2017

  • Citywire Asia Awards 2017: images from Singapore

    Citywire Asia Awards 2017: images from Singapore

  • Citywire Asia Awards 2017: images from Hong Kong

    Citywire Asia Awards 2017: images from Hong Kong

  • Citywire Asia Taipei Retreat 2017: day one images

    Citywire Asia Taipei Retreat 2017: day one images

  • Citywire Asia Retreat in Bangkok: day two images

    Citywire Asia Retreat in Bangkok: day two images

  • Bangkok buzz: day 1 images from our Asia Retreat

    Bangkok buzz: day 1 images from our Asia Retreat

  • Images from Citywire's Thailand Forum

    Images from Citywire's Thailand Forum

  • Pictures from Citywire's Hong Kong forum

    Pictures from Citywire's Hong Kong forum

  • Images from our Citywire Singapore Forum

    Images from our Citywire Singapore Forum