The number of rich Chinese who have emigrated overseas has risen to 64 percent, with one third of them owning personal assets of over 100 million yuan, according to a survey.
Based on the latest survey published by China-based Hurun Research Institute on Jan.16, 2014, the percentage of China's rich who have left China or who plan to do so climbed up to 64% in 2013 from 60% in 2012.
The research also indicates that most of China's rich who emigrated overseas only applied for permanent residency in foreign countries instead of changing their nationality. The number of China's rich who emigrated to Europe increased most, but the US remains to be their top destination of choice.
The research also demonstrates the maturity of the Chinese luxury market, with consumer spending among those with personal assets of at least 10 million yuan dropping by 15% in annual average.
"The Chinese rich are no longer spending as lavishly as they did in previous years. They are becoming more rational and mature, and care more about their own styles. They are now starting to appreciate the culture and craftsmanship behind their purchases," said Rupert Hoogewerf, founder and chief researcher of the Hurun Report.
In addition, 31% of the rich Chinese who were interviewed said they were "extremely confident" in the Chinese economy over the next two years. The level rose from 25% in 2012, and it is the first rise seen in this statistic in the past five years.
It is reported that 35% of China's rich chose to invest into real estate, with stocks investments coming in as a strong second choice, attracting 22.8% of China's rich. The number of gold investors has decreased by 6%.