Whos Draining China Massive Asset Transfer Abroad

The topic of transferring assets abroad has always been sensitive in Communist China. To understand this, let s revisit a report from October 2018. Published on the PwC official website by UBS Group, the 2018 Billionaires Report New Visionaries and the Chinese Century mentioned that as of 2017, Communist China had 373 billionaires, more than half of whom came from real estate (20), technology (19), and consumer goods and retail (13) industries. They collectively held assets worth 1. 12 trillion USD (about 7. 8 trillion yuan), averaging 30 billion USD (about 209 billion yuan) per person. ,chinaeconomy, chinaobserver All rights reserved.