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People's Daily Online>>China Society

Increase in China's rich seeking US residency (2)

By Zha Minjie (Shanghai Daily)

08:42, November 14, 2011

EB-5 green cards also allow affluent foreign investors and family members to work in the US in any capacity and go to school or retire there.

Each year, 10,000 visas are available for EB-5 investors looking to come to America, the Wall Street Journal reported.

In a bid to boost the economy and counter high unemployment rates, America has long promoted the immigration of people who invest capital in the nation's economy and help create jobs for US workers.

Chinese are increasingly making up a large proportion of the world's rich. The Hurun Wealth Report 2011 said China had 960,000 individuals with a personal wealth of 10 million yuan (US$1.5 million) or more. China also has 60,000 "super rich" with 100 million yuan or more.

According to a recent Bank of China survey, four out of 10 millionaires were thinking of emigrating and sending their children to study overseas, with the US and Canada their preferred destinations.

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Leave your comment3 comments

  1. Name

wende at 2011-11-1471.251.41.*
The rich elite should be checked thoroughly if they had been cheating on taxes or doing illegal business practices before they are allowed to leave the country. Same rigorous investigations should be done on government officials or their family members planning to leave. Doing business in the west is not as easy as some rich people think and I think they know that. Therefore, it is more suspicious regarding their real motive behind the exodus. Maybe they are avoiding pending prosecution
Sam Teng at 2011-11-14175.136.54.*
It's human nature. The grass over the neighbor's side is always greener.
PD User at 2011-11-1460.54.90.*
As usual, many like a taste of the life in the West.Let's hope they are not jumping from frying pan into the fire.Wait for 10 years we will see them applying to come back again.

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