Why China's Rich Are Leaving

Nearly half of China's wealthiest families are planning to emigrate or are in the process of emigrating, according to a recent report.

A survey of the wealthiest private individuals in 2011 carried out by the Bank of China and the magazine Hurun found that 14 percent of the richest families are already living overseas, or at least have foreign passports.

And a total of 46 percent said they were either in the process of emigrating, or were planning to do so.

The poll surveyed 980 Chinese people in 18 major cities with assets of more than 10 million yuan (U.S. $1.6 million).

China is currently home to 960,000 people with assets of more than 10 million yuan, Hurun reported in November.

The movement overseas of wealthy Chinese is being driven by a quest for a cleaner environment, safe food and medicines, and a good education system, recent reports said

According to Hurun, 2,969 Chinese nationals applied to emigrate to the U.S. last year, a 10-fold increase compared with 2007. Read More