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Chinese Citizens Are Moving Their Investments Across Borders As China’s Economy Sees Some Turmoil

Chinese Citizens are moving their investments across borders (Photo: MSN)

Some wealthy Chinese citizens are moving their investments into high-interest bank accounts in Japan, the UK, and the US as the anti-business stance of President Xi Jinping brings uncertainty to the direction of China’s economy.

Chinese Citizens buying Gold Bars and Foreign Property (Photo: dnaindia)

Wealthy Chinese Citizens Smuggle Gold And Pour Billions Into High-Interest Bank Accounts In Japan, UK, And US

SOURCE– Affluent Chinese citizens have been moving billions of dollars across borders this year and tying up their money in investments like gold bars and foreign properties. These wealthy Chinese citizens are investing their savings in foreign stocks, apartments, and bank accounts.

The upper-middle-class Chinese citizens have plunked down millions on foreign apartments in London, Tokyo, and New York. Foreign bank accounts with high interest rates are also a popular landing spot for Chinese citizens dollars.

Chinese citizens are purchasing small gold bars, petite enough to be snuck in a carry-on suitcase without notice, to get around some of the stricter controls on moving money out of the country.

READ ALSO: SNAP Recertification: It Is A Necessary Process For Guaranteed Distribution Of SNAP Benefits

Chinese Citizens Moving Their Investments Overseas May be A Response To The Anti-Business Stance Of President Xi

Chinese citizens and investors sending their money out of the country may be a reflection of the ongoing unease with the Chinese economy as it is slowly recovering from the COVID-19 pandemic. China is also experiencing a tangible slowdown in the real estate market.

According to Money Lowdown, Chinese citizens moving their money out of the country may also be due to their fear for the direction of China’s economy in the hands of President Xi, who implemented harsher government control over business and other parts of life.

READ ALSO: Social Security Benefits In 2024 Get A Raise: This Is The Average Retiree’s Expected Extra Income

 

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