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发帖数: 27535 | | C****g
发帖数: 2220 | 2 90% Of China's Super Rich Want Their Children To Study Abroad
Education is highly valued in China, and among the nation's super rich, that
nearly always means that children are sent abroad to study.
According to China's Industrial Bank and HuRun Report's big new survey on
the changing lifestyle of China's new rich, 85% of people with a net worth
of more than $950,000 plan to send their children abroad to study.
Among the uber-rich, or those with assets of $15.8 million or more, that
figure jumps to 90%.
The most popular destination for students is the U.S.
DON'T MISS: 13 Fascinating Facts About China's Millionaires >
Read more: http://articles.businessinsider.com/2012-04-09/lifestyle/31311529_1_hurun-report-children-study#ixzz22DckrKG2
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发帖数: 2220 | 3 裸官
Moving the family abroad
Hedging their bets
Officials, looking for an exit strategy, send family and cash overseas
May 26th 2012 | BEIJING | from the print edition
THE phrase “naked official”, or luo guan, was coined in 2008 by a
bureaucrat and blogger in Anhui province, Zhou Peng'an, to describe
officials who have moved their family abroad, often taking assets with them.
Once there, they are beyond the clutches of the Communist Party in case
anything, such as a corruption investigation, should befall the official,
who is left back at home alone (hence “naked”). Mr Zhou says the issue has
created a crisis of trust within the party, as officials lecture
subordinates on patriotism and incorruptibility, but send their own families
abroad.
You do not have to be corrupt to be “naked”, however. Sending your family
abroad is simply a state of maximum readiness. It does not suggest huge
confidence in a stable Chinese future. Many wealthy businessmen have also
been preparing exit strategies. One of the most common legitimate routes
involves immigrant-investor programmes in America, Canada or Hong Kong,
typically requiring an investment of up to $1m. Chinese nationals have
rushed to apply for these. Three-quarters of applicants for America's
programme last year were Chinese.
The less well-heeled obtain passports from other countries—in the South
Pacific, Africa or Latin America—at more affordable prices (as low as $20,
000). Li Chengyan, director of the Centre for Anti-Corruption Studies at
Peking University, says countries that do not have an extradition treaty
with China are particularly popular among corrupt officials. One crooked
former governor of Yunnan province was found to have five foreign passports.
“No need to wait for a visa if they have to run,” says Mr Li.
In this section
A sigh of relief
»Hedging their bets
Everybody was kung fu fighting
Reprints
Related topics
Politics
Government and politics
World politics
Asia-Pacific politics
Chinese politics
For senior officials the usual first step to getting naked is to send
children overseas to study. Perhaps the most famous example is the recently
purged party chief of Chongqing, Bo Xilai. Mr Bo's son, Bo Guagua, is a
graduate student at Harvard University, after attending Harrow School and
Oxford University in Britain. Mr Bo's wife, Gu Kailai (now detained on
suspicion of murdering a British businessman in Chongqing), has lived abroad
, and their broader family is worth more than $100m, according to the New
York Times.
The government has done little to stop the emigration. It began formally to
monitor the whereabouts of officials' families and assets only last year,
and then only by asking officials to fill in forms. In 2011 the central bank
published an estimate on its website, attributed to the Chinese Academy of
Social Sciences, that up to 18,000 officials had fled the country between
1995 and 2008 with stolen assets totalling 800 billion yuan ($130 billion at
today's exchange rate). The bank then claimed the figures were inaccurate,
and scrubbed them from its website (though not from the memories of those
who had read them). The chief prosecutor, Cao Jianming, says that in 2011
foreign governments helped arrest 1,631 Chinese fugitives for “work-related
crimes” (including officials and employees of state-owned firms) and to
recover 7.8 billion yuan in stolen assets.
Some senior officials have pushed for reform. In January Guangdong province
in southern China announced that officials whose families have emigrated
will be barred from high-level posts. But this is an exception. Officials
who can afford to send their families abroad are usually the most powerful,
and the most aware of China's problems. Says Mr Li of Peking University, “
They know better than anyone that the China model is not sustainable and
that it's a risk to everybody.”
from the print edition | China
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