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US tops China’s immigration destination

2012-12-19 15:34 Caijing     Web Editor: yaolan comment

The US had become the No.1 immigration destination since 2007, attracting over 50% of the Chinese immigrants last year, according to Annual Report of Chinese International Migration (2012), the first Chinese international migration report.

Last year nearly 90,000 of the 150,000 Chinese immigrants got their United States Permanent Resident Card.

According to the report, most of these immigrants from China are rich people, and their investments are mainly focused in real estate, foreign currency and deposits and stocks, among other fields.

Nearly 60% of Chinese people with a personal fortune of over 100million RMB and 27% with a personal fortune of over 100million RMB had immigrated.

Most of immigrates are at their 30s or 40s and many have professional skills.

Education is the top reason for immigration as the report cited statistics showing that 80% of Chinese immigrants are moving abroad because they want their kids to have better education.

A Hurun Report published in August said the U.S, UK and Canada are the favorite destinations for education as more than 85% of Chinese millionaires plan to send their children abroad for education.

The boom in overseas education for their children and a desire to live abroad has driven Chinese millionaires to invest more readily overseas, as one third of the millionaires own investable assets overseas and overseas assets account for 19% of millionaires' total assets, Hurun said.

Meanwhile, migration for investment has become a significant part of Chinese people's international migration, the report said.

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