China's Wealthy Should Move More Money Abroad, Investment Bank Says

(Beijing) – It's time for China's wealthy to move more of their money overseas because of slower growth at home and loosened regulations for investing abroad, analysts at an investment bank said on June 24.

China's high-net-worth individuals (HNWI) have total wealth of US$ 4.4 trillion as of this year, but only 5 percent was outside the country, data from China International Capital Corp. Ltd. (CICC) shows. HNWIs worldwide invest about 24 percent of their assets outside their home region.