Monday, May 23, 2011

Increasing numbers of wealthy Chinese who emigrate to the West

Beijing .- Two million Chinese people got permanent residence abroad since 1999 by the deposit of average amounts of $ 800,000 (400,000 of them in Canada), reported the official Xinhua news agency. The main reasons for Chinese economic elites to go to live abroad are air pollution and poor Chinese educational system for children, the agency said.

The so-called "investment immigrant" Chinese banks must deposit in the country of destination varying amounts of U.S. $ 500,000 to 1.2 million Singapore dollars or $ 850,000 in Australia, money that will recover after some time according to the regulations of the country. "This is the third phase of migration started in the eighties with the shipment by the Student Government, followed by family reunification, labor and low skilled labor to the current characterized by possession of money and knowledge," wrote the official source.

Get a better education for children is one of the reasons for family migration, according to official statistics, 21 percent of college students in 2010 chose to go abroad. A report by the Academy of Social Sciences of China noted that the 1.06 million up to 2010 young people who studied at universities abroad returned to China some 275,000.

In 2009, the number of overseas Chinese university students increased by 27.5 percent to 229,000, of which returned 108,000, an increase of 56.2 percent.

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