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Report: Rich Chinese investing abroad to protect wealth, some expect children to emigrate

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(Globalpost/GlobalPost)

BEIJING, China - A new report says China's richest people are investing more abroad as they try to preserve their fortunes in a fast-changing economy and 10 per cent expect their children to emigrate.

The report Tuesday by China Merchants Bank and the consulting firm Bain

Beijing wants to nurture slower, sustainable growth based on domestic consumption and service industries, downplaying exports and investment that made fortunes for a generation of entrepreneurs.

China Merchants and Bain said people interviewed for its report are stepping up investment in real estate and other assets in the United States, Canada, Hong Kong and Singapore to "diversify and preserve wealth."

http://www.globalpost.com/dispatch/news/the-canadian-press/130507/report-rich-chinese-investing-abroad-protect-wealth-some-exp