China’s Millionaires Are Leaving the Country

News Snapshot:

China is expected to lose more wealthy people via emigration than any other country this year, according to a recent study. "China is again on track to be the biggest millionaire loser globally, with an anticipated net exit of 15,200 [high-net-worth individuals, or millionaires] this year," said a report published June 18 by British investment migration consultancy Henley & Partners (H&P). Since China ended its strict COVID lockdown policies at the end of 2022, the world's second-largest economy has had a stuttering recovery, plagued by a real estate crisis, high levels of local government debt, youth unemployment, and lukewarm consumer...