China’s wealthiest citizens are fleeing the country en masse — and the urgency to move money acr
China’s wealthiest citizens are fleeing the country en masse — and the urgency to move money across the border is as high as ever.
Nearly $1 trillion exited the country this past year, and a large chunk of this capital outflow is being invested into New York City real estate. Despite tight limits on the amount of money they can move out of the mainland, Chinese investors pumped more than $3 billion into the New York market in 2014.
For our latest video, The Real Deal looked at why and how Chinese nationals are getting their money out the country, and what the government is doing to curb this exodus of capital.
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Source: The Real Deal