Many rich Chinese considering abandoning China for America

More than half of China’s millionaires are either considering emigrating or have already taken steps to do so, according to a survey that builds on similar findings earlier this year, highlighting worries among the business elite about their quality of life and financial prospects, despite the country’s fast-paced growth.

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The U.S. is the most popular emigration destination, according to the survey of 980 Chinese people with assets of more than 10 million yuan ($1.6 million) published on Saturday by Bank of China and wealth researcher Hurun Report…

Concerns are mounting, however, that China’s growth could be derailed by a raft of problems, including high inflation, a bubbly real-estate sector and a sharp slowdown in external demand.

Many Chinese who have profited most from the country’s growth also express increasing concerns in private about social issues such as China’s one-child policy, food safety, pollution, corruption, poor schooling, and a weak legal system.

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