News / Asia

    China's Wealthy Set Their Sights Abroad

    A wealthy Chinese immigrant family inspect a villa in the high-class neighborhood of West Vancouver, Canada, June 11, 2011.
    A wealthy Chinese immigrant family inspect a villa in the high-class neighborhood of West Vancouver, Canada, June 11, 2011.

    As China's wealth increases, so does the number of well-off Chinese seeking to emigrate to other countries.

    Their reasons vary: some say they want to switch citizenship to improve educational opportunities for their children, others say they are trying to  “hedge their bets” against an uncertain economic future.

    The U.S. state of Florida, with its sunshine and beaches, is on the other side of the planet from the southern Chinese commercial center, Guangzhou.

    The distance does not deter one ambitious Guangzhou resident who is in the process of obtaining an investor immigrant visa to the United States.

    She says she is willing to leave because she thinks her two children will have better opportunities for education. She says holding a U.S. passport also will make it easier to obtain visas to go to other countries.

    Many wealthy Chinese do not publicly talk about their desire to immigrate since such a move can be seen as disloyal to their country. This would-be emigre agreed to speak to VOA only on the condition that she not be identified.

    To qualify for her visa, she and her husband are planning to invest in a wind farm in South Dakota. She says they made their decision after a trip to the United States in 2009.

    She says her friends in the United States introduced her to lawyers, and then after she returned to China, she said she was bombarded with “all sorts of advertisements” about immigrating to other countries.

    She says they were considering moving to two U.S. cities, Chicago or Tampa, because that is where their friends live. They decided Chicago is too cold, she says, and because they come from a warm climate, they chose Tampa.

    For more than 20 years, the United States has had an immigration program under which a foreigner can qualify for U.S. citizenship if he or she invests one million dollars in a venture that creates at least ten jobs for Americans.

    Charles Bennett, the head of consular affairs at the U.S. embassy in Beijing, says in China, most of the interest in the program so far has come from American companies that are trying to find Chinese investors. But, he notes that it is only recently that many Chinese could even meet the steep financial requirements for the program.

    “The interest has grown over the life of the program of course because 20 years ago, there weren't the same number of people that there are now who would be able to qualify for this type of visa. So, there has been more interest recently," Bennett says.

    China’s economy has recorded some of the world's highest annual growth rates for more than a decade, and the trend is expected to continue this year.

    The apparent paradox of those growing riches is that there is also an increasing number of the newly-wealthy who are seeking to emigrate.

    Charles Qi is the president of Beijing East J&P Star Consulting, a company that helps Chinese people obtain visas to other countries. When he started 16 years ago, he mostly helped people apply for skilled worker status. Now he helps customers who have the means apply for investor citizenship abroad, especially to Canada, Europe, Hong Kong, Singapore and the United States.

    Qi says before 2000, he only had about 20 to 30 business applications each year. Now, more than ten years later, he says the applications have increased ten-fold, to a few hundred business investor applications each year.

    Qi says he thinks that, although his clients may leave behind their Chinese citizenship when they emigrate, many of them are still Chinese in their actions and in their hearts.

    Most of his clients still have their equipment and business in China, and he thinks this type of immigration will help make China more open in the future and will have a positive impact on China's economic development.

    The American economy has not been growing as strongly as in China, in recent years, but William Zarit, a commercial officer at the U.S. Embassy in Beijing, says he believes many Chinese still see the United States as a safer investment.

    “We don't know what's going to happen here in the next three to five years economically, how hard that landing is going to be," says Zarit. "So, I think investors here in China are thinking of that also, you know, let's diversify and get a steady [return]. We might not be getting the return on investment that I possibly would get here [in China] in whatever the industry, maybe, but I think I will go to America anyhow, to hedge my bet.”

    Although Chinese who are thinking of emigrating abroad do not generally talk publicly about their decision making, there is a heated debate on the topic in Internet chat rooms.

    In those online discussions, commentators suggest that the decision to leave China is not solely an economic one.

    One real estate mogul recently posted an online comment bemoaning China's overall lack of a sense of basic security for things like property, food, air, education and basic rights. He says this is not only the main reason motivating people to leave the country, it is also the main thing threatening China's overall stability.

    You May Like

    Former US Envoys Urge Obama to Delay Troop Cuts in Afghanistan

    Keeping troop levels up during conflict with both Taliban and Islamic State is necessary to support Kabul government, they say

    First Lady to Visit Africa to Promote Girls' Education

    Michele Obama will be joined by daughters and actresses Meryl Streep and Freida Pinto

    Video NYSE Analyst: Brexit Will Continue to Place Pressure on Markets

    Despite orderly pricing and execution strategy at the New York Stock Exchange, analyst explains added pressure on world financial markets is likely

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Brexit Vote Plunges Global Markets Into Uncharted Territoryi
    X
    June 24, 2016 9:38 PM
    British voters plunged global markets into unknown territory after they voted Thursday to leave the European Union. The results of the Brexit vote, the term coined to describe the referendum, caught many off guard. Analysts say the resulting volatility could last for weeks, perhaps longer. Mil Arcega reports.
    Video

    Video Brexit Vote Plunges Global Markets Into Uncharted Territory

    British voters plunged global markets into unknown territory after they voted Thursday to leave the European Union. The results of the Brexit vote, the term coined to describe the referendum, caught many off guard. Analysts say the resulting volatility could last for weeks, perhaps longer. Mil Arcega reports.
    Video

    Video Orlando Shooting Changes Debate on Gun Control

    It’s been nearly two weeks since the largest mass shooting ever in the United States. Despite public calls for tighter gun control laws, Congress is at an impasse. Democratic lawmakers resorted to a 1960s civil rights tactic to portray their frustration. VOA’s Carolyn Presutti explains how the Orlando, Florida shooting is changing the debate.
    Video

    Video Tunisian Fishing Town Searches for Jobs, Local Development Solutions

    As the European Union tries to come to grips with its migrant crisis, some newcomers are leaving voluntarily. But those returning to their home countries face an uncertain future.  Five years after Tunisia's revolution, the tiny North African country is struggling with unrest, soaring unemployment and plummeting growth. From the southern Tunisian fishing town of Zarzis, Lisa Bryant takes a look for VOA at a search for local solutions.
    Video

    Video 'American Troops' in Russia Despite Tensions

    Historic battle re-enactment is a niche hobby with a fair number of adherents in Russia where past military victories are played-up by the Kremlin as a show of national strength. But, one group of World War II re-enactors in Moscow has the rare distinction of choosing to play western ally troops. VOA's Daniel Schearf explains.
    Video

    Video Experts: Very Few Killed in US Gun Violence Are Victims of Mass Shootings

    The deadly shooting at a Florida nightclub has reignited the debate in the U.S. over gun control. Although Congress doesn't provide government health agencies funds to study gun violence, public health experts say private research has helped them learn some things about the issue. VOA's Carol Pearson reports.
    Video

    Video Trump Unleashes Broadside Against Clinton to Try to Ease GOP Doubts

    Recent public opinion polls show Republican Donald Trump slipping behind Democrat Hillary Clinton in the presidential election matchup for November. Trump trails her both in fundraising and campaign organization, but he's intensifying his attacks on the former secretary of state. VOA National Correspondent Jim Malone reports.
    Video

    Video Muslim American Mayor Calls for Tolerance

    Syrian-born Mohamed Khairullah describes himself as "an American mayor who happens to be Muslim." As the three-term mayor of Prospect Park, New Jersey, he believes his town of 6,000 is an example of how ethnicity and religious beliefs should not determine a community's leadership. Ramon Taylor has this report from Prospect Park.
    Video

    Video Internal Rifts Over Syria Policy Could Be Headache for Next US President

    With the Obama administration showing little outward enthusiasm for adopting a more robust Syria policy, there is a strong likelihood that the internal discontent expressed by State Department employees will roll over to the next administration. VOA State Department correspondent Pam Dockins reports.
    Video

    Video Senegal to Park Colorful ‘Cars Rapide’ Permanently

    Brightly painted cars rapide are a hallmark of Dakar, offering residents a cheap way to get around the capital city since 1976. But the privately owned minibuses are scheduled to be parked for good in late 2018, as Ricci Shryock reports for VOA.
    Video

    Video Florida Gets $1 Million in Emergency Government Funding for Orlando

    The U.S. government has granted $1 million in emergency funding to the state of Florida to cover the costs linked to the June 12 massacre in Orlando. U.S. Attorney General Loretta Lynch announced the grant Tuesday in Orlando, where she met with survivors of the shooting attack that killed 49 people. Zlatica Hoke reports.
    Video

    Video How to Print Impossible Shapes with Metal

    3-D printing with metals is rapidly becoming more advanced. As printers become more affordable, the industry is partnering with universities to refine processes for manufacturing previously impossible things. A new 3-D printing lab aims to bring the new technology closer to everyday use. VOA's George Putic reports.
    Video

    Video Big Somali Community in Minnesota Observes Muslim Religious Feast

    Ramadan is widely observed in the north central US state of Minnesota, which a large Muslim community calls home. VOA Somali service reporter Mohmud Masadde files this report from Minneapolis, the state's biggest city.

    Special Report

    Adrift The Invisible African Diaspora