November 26, 2013

Video: China’s Ultra Wealthy Flee In Record Numbers

A new segment by CNBC takes a look at the estimated $650 billion in offshore assets held by China’s ultra wealthy, who are investing overseas in record numbers. According to the video, that number is expected to double in the next three years, and is accompanied by a strong interest in emigration.

Since it’s illegal to take more than $50,000 out of the country in a year, a large amount of this wealth is being transferred through illicit means such as gambling accounts in Macau, money transfer agents, and “the old-fashioned way”—suitcases full of cash. Watch the full video above.

(Homepage image: Shutterstock)

Business & Finance / Investment / Video
Tag: china, china luxury, investment, Luxury... , More
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