Chinese millionaires have been investing hundreds of millions in stocks and real estate overseas, such as London, New York, Tokyo, Singapore, and many other global cities. China is one of the biggest economies in the world. However, it appears the number of millionaires living in the country is in rapid decline and quickly seeking a way to get their money out of the country. For the longest time, real estate was seen as a safe, booming business in China, with many rich families using it as a way to store wealth. This is no longer the case. In 2021, Chinese President Xi Jinping made a call for “common prosperity”, which has been understood as something of a warning to Chinese millionaires to contribute more to society. Are Chinese loyal to their motherland ?
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