China s billionaires are speeding up the transfer of assets

Mondo Finance Updated on 2024-02-03

According to the "Global Wealth Mobility Report" released by the well-known British consulting company "Heinz Consulting", in 2023, the number of wealthy immigrants in China will rank first in the world, reaching 1350,000 people.

The main places of residence of these billionaires include the United States, Canada, Australia and other countries, all of which are members of the "Five Eyes Alliance". Chinese mainland does not have the power to extradite criminals from these countries.

The reason why China's wealthy are so keen to emigrate overseas is mainly because immigrants may bring them many benefits, including: money laundering, tax avoidance, values, quality of life, wealth inheritance, and so on.

Although immigration is an individual right, it is obvious that the first rich person will "run", which obviously lacks the sense of belonging and responsibility that Chinese people should have, and will also have a huge negative impact on domestic economic development and social ecology.

Most of the rich immigrants have seized the dividends of the domestic development era in order to earn huge wealth, but in the end, they have not given back and given back to the motherland and people who gave birth to them and raised them, resulting in a massive outflow of wealth.

What's even more infuriating is that among the people who got rich first in China, there are many people who break the law and commit crimes, take advantage of the law, and disrupt the economic order, but now they emigrate overseas with huge sums of money and run away!

It is suggested that the state should strengthen the review of immigration and the supervision of funds in a targeted manner, and introduce the immigration and change nationality tax law as soon as possible.

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