The United States is the preferred destination for wealthy Chinese investment and emigration, according to a survey.
According to the annual Hurun Research Institution report of over 300 “high net worth” Chinese, the United States tops the list of where they’d want to live for the third year straight.
Hurun said the US was the top choice because of “eight criteria, namely education, investment destination preferences, immigration policy, property purchasing, tax, medical care, visa-free travel, and ease of adaptability.”
Hurun found that depreciation of the Yuan was a key driver for 84 percent of those who said they’d move. That was up 50 percent from last year, the survey found.
Pollution is another driver.
“Education and pollution are driving China’s rich to emigrate,” said Rupert Hoogewerf, chairman and chief researcher of Hurun Report. “If China can solve these issues, then the primary incentive to emigrate will have been taken away.”
Among the most popular cites for Chinese investment emigrants and real estate investment, four U.S. cities topped the list, including Los Angeles, Seattle, San Francisco and New York.
According to Forbes, Chinese investors were the largest group of foreign investors in commercial real estate in 2016, having invested some $19.2 billion, a 10 percent surge from 2015.