Shocking! $50 Billion/Month Flees China, Mainly From Chinese Households and Private Businesses

Recently, customs at Shenyang Taoxian International Airport discovered abnormal images in a passenger’s luggage during an outbound flight to South Korea. Upon inspection, they found 1 million yuan in cash inside the luggage. On November 3rd, as reported by Guangdong Zhuhai Airport, Gongbei Customs, which operates under the Hong Kong-Zhuhai-Macao Bridge Customs, caught a driver hiding two gold bars in his shoes, totaling 2000 grams and estimated to be worth about 900,000 yuan. China’s wealthy are rapidly moving assets out of the Chinese financial market. They are transferring billions of dollars out of the country this year by purchasing gold bars, Hong Kong insurance policies, foreign currencies, and luxury apartments overseas. Under the increasingly oppressive regime of the CCP, the rich are moving their assets both as a way to find solid investment options and to avoid becoming targets of the CCP’s financial harvest. According to a report by The New York Times on November 28th, about 50 billion dollars are flowing out of China each month on average, primarily from Chinese households and private businesses. The report states that to circumvent the Chinese government’s strict control over transferring funds overseas, some people are buying small gold bars and stuffing them into their carry-on luggage, including large amounts of foreign currency, or purchasing overseas real estate. #Run#China’srich#chinaobserver All rights reserved.