For years, China’s wealthiest have strived to gain residency overseas in order to protect their assets, but the pandemic has complicated matters.
Many are now facing a million-dollar question, do they stay in China and risk losing their assets, or move abroad where they risk contracting the virus?
According to consultants and business people, many are conflicted and feel pressured that the Chinese government could seize their assets in what is perceived as a campaign against business owners.
Among them is Wendy Zhao and her husband, who own properties worth more than US$3 million in Shenzhen, China’s hi-tech hub.
They are at odds over whether to move to New Zealand next year to start a ne
Jan 04, 2021