By Frank Ilia
As you may have already known, China has changed its constitution to let their current president, Mr. Xi Jinping to serve beyond a second term. As we told you before, Mr. Xi is following every step of the Chinese dictator, Mr. Mao Zedong and quickly turning himself into a new dictator of China read more
Besides changing China’s constitution, Chinese governments have started to use propaganda to promote public-private-partnership, including re-establishing communist branches in private companies, including foreign companies. It brings bad memories on how Chinese Communist Party stole people’s fortunes when it took power 70 years ago read more
Also, Chinese inflation rate is about 6% according to the Chinese government (privately, people think the rate is much higher), that means the assets a Chinese person holds will lose 50% of its value in about 10 years. With more powers in the hand of a dictator, China’s economy will be worsen.
Therefor, there is no question that the fears among the Chinese will push more Chinese people to move their hard earned assets out of China to Canada, one of the most Favorited investment countries for Chinese citizens.
The Chinese are moving their money out of China both by institutions and private citizens.
Globe and Mail had a report about Chinese institutions who are buying Canadian assets including a recent one, BC’s landmark, Grouse Mountain Resorts. “Grouse Mountain acquisition just the start for Chinese investment firm, banker says”, read more
Also, New York Times had another report on the same topic “Behind an $18 Billion Donation to a New York Charity, a Shadowy Chinese Conglomerate”, read more
What the Globe and Mail and NYT did not disclose is that these deals will give those top executives in Chinese institutions the opportunities to send their families and family members to Canada conveniently, acquiring Canadian passports later. It is part of a number of schemes for executives to move their money out of China.