News Snapshot:
According to experts , high-income residents are planning to leave China because of the strict zero-COVID policy. The outflow of the rich will impact the Chinese economy. Henley & Partners , an investment migration consultancy in London, forecasted that about 10,000 wealthy Chinese will settle overseas to escape the “zero policy.” This would result in an outflow of $48 billion , making China the second-largest country in terms of wealth and brain drain after Russia. Bloomberg cited a specific case, Hu 胡, a Shanghai restaurant owner, sold two of his high-end restaurants for 20 million yuan ($3 million). He hired...
