Chinese wealthy want to leave China for US!
The United States is the most popular destination for Chinese emigrants, with rich Chinese praising its education and healthcare systems. Last year, nearly 68,000 Chinese-born people became legal permanent residents of the U.S., seven percent of the total and second only to those born in Mexico. Canada and Australia are also popular.
It is a bothersome trend for China’s communist leaders who’ve pinned the legitimacy of one-party rule on delivering rapid economic growth and a rising standard of living. They’ve succeeded in lifting tens of millions of ordinary Chinese out of poverty while also creating a new class of super rich. Yet affluence alone seems a poor bargain to those with the means to live elsewhere.
Despite more economic freedom, the communist government has kept its tight grip on many other aspects of daily life. China’s leaders punish, sometimes harshly, public dissent and any perceived challenges to their power, and censor what can be read online and in print. Authoritarian rule, meanwhile, has proved ineffective in addressing long standing problems of pollution, contaminated food and a creaking health care system.
“In China, nothing belongs to you. Like buying a house. You buy it but it will belong to the country 70 years later,” said Su, lamenting the government’s land leasing system.
“But abroad, if you buy a house, it belongs to you forever,” he said. “Both businessmen and government officials are like this. They worry about the security of their assets.”
The main reasons people want to move abroad, he said, are their children’s education and for better healthcare. Some want to leave because they got their money illegally, such as corrupt government officials and businesspeople, while others are inspired by friends who have already emigrated to the U.S.
America is and will always be the greatest country in the world!
Chinese are buying luxury property in NYC. “Everybody wants to come to New York because New York is the starting point for going global,” said Xue Ya, president of the China Center.
Not only are Chinese banks investing millions of dollars in New York real estate, but Chinese business people are also increasingly buying luxury condominiums in Manhattan, the New York Times reported.
Many of them are purchasing the properties as second homes or as housing for children studying in New York. In one case, Liebman said, a parent spent $20 million on an apartment for a daughter going to college in Manhattan.
Chinese banks have quietly invested more than $1 billion into New York real estate in the past year, the New York Times reported, as investors pick up luxury apartments and get involved with commercial and residential projects in an effort to diversify their holdings and develop international business relationships.
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You are 100% right. Chinese are buying luxury property in NYC! The Chinese (from China) are vying to get into New York City Universities like crazy!