China’s rich nervous to move assets overseas amid pandemic crisis
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
China hopes to attract foreign workers to its booming East
Foreign workers in China have long complained about the bureaucracy and paperwork involved in getting a working visa, but that may be about to change after the authorities unveiled plans to streamline the application process. A policy document released on Sunday outlined plans for a series of pilot programs to reduce the red tape as part of a project to boost the Yangtze River Delta region, which includes major commercial cities such as Shanghai, Hangzhou and Nanjing. The plans, rubber-stamped by the Central Committee of the Communist Party and the State Council, aims to streamline work permit applications, permanent residency and employment for overseas workers. The plan aims to attract mo