Chinese rich population’demand for global asset allocation to increase fast: report

BEIJING, June 23 (Xinhua)– More rich Chinese are expected to send their assets overseas for better investment returns as the economy continues to open up, according to a report.

It is estimated that the proportion of Chinese individual assets to be allocated overseas will increase from the current 4.8 percent to about 9.4 percent in the next 5 years, with the Assets under Management (AuM) of overseas investment increasing to 13 trillion yuan (1.98 trillion U.S.dollars), according to the 2016 China Wealth Report jointly released on Wednesday by China Industrial Bank (CIB) and The Boston Consulting Group (BCG).

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