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Nearly 80 percent of high net worth individuals (HNWIs), or people with a net worth of over $1 million, are either in the process or have already completed overseas investment, according to a recent report.
The report, jointly released by CreditEase Wealth Management and Beijing-based market research company HCR, shows that 74.2 percent of China's HNWIs are considering or have already conducted overseas investment, among which 24.8 percent have already completed the process.
For those who already own overseas assets, 50 percent choose financial investment, while 40.6 percent are engaged in real estate management.
In terms of the motivation of overseas investment, 63.2 percent of China's HNWIs implied that "they invest for their children's education", while other reasons include spreading wealth risk, wealth preservation and appreciation.
"China's HNWIs are turning citizens of the world. Their overseas investment is increasingly diversified, such as immigration, purchasing overseas property, and studying abroad.
"In addition, their investment activities move towards specialization, with nearly half of the HNWIs choosing to consult professional institutions when considering overseas investment. With China's rapid economic development and further opening up, the country is gradually connecting to the world," said Zhang Yue, senior vice-president of CreditEase.