The emigration of rich Chinese is a growing trend. Public debate about the topic recently flared up again after it was revealed that Zhang Lan, the chief of Southern Beauty, a restaurant chain, had surrendered her Chinese citizenship and membership in the Chinese People's Political Consultative Conference, the country's top political advisory body.

Of the 20,000 Chinese with at least 100 million yuan ($15 million) in private assets, 27 percent have already emigrated, and 47 percent are considering doing so, according to a 2012 report by China Merchants Bank and U.S. consultants Bain & Co. In addition, 14 percent of China's millionaires are already in the process of emigrating or have plans to leave. The individuals making up this 14 percent have an average age of 42, and are worth over 60 million yuan ($9.5 million) on average.

Some maintain that emigration is a personal choice. However, others argue that the emigration of rich people has harmed China by causing a massive outflow of private money, dealing a heavy blow to China's tax revenues, consumption rates and job market.

Pro

Han Shinan

Qilu Evening News

The rich control huge assets and are, for the most part, relatively young. Although they have the right to choose whether they stay or go, this kind of massive emigration is causing China to lose both wisdom and wealth. The question is, why are so many rich people moving to other countries at a time when China's economy is booming?

While there are many reasons for the rich to emigrate, the main factors revolve around the search for a better life, better education and better protection of private assets. Emigration is a personal choice, and a country should have the confidence and open-mindedness to allow this to happen. However, when emigration becomes a trend and fashion, it can damage a country's overall strength and international competitiveness.

Emigration is not a new topic in China, which has seen emigration waves during the late 1970s, early 1980s and 1990s. However, recent emigration of the rich is often accompanied by overseas investments of wealth accumulated in China during the last 30 years of reform and opening up. To some extent, this results in China losing the fruits of its own development. The departure of those with professional knowledge and entrepreneurial spirit is an immeasurable loss for China, which is still a developing economy.

Emigration itself is not terrible. Global trends show that China is not the only country losing its most successful citizens. India, South Korea and many others are facing similar problems. It is time for these nations to take a rational approach to emigration, especially if measures to lesson emigration rates involve improving the environment, educational reform and advancing asset safety, etc.

The outflow of wealth and talent reveals that China is experiencing many problems in its process of rapid development. Nevertheless, if we work hard to build a rich, healthy and harmonious society, our country may become an emigration destination for citizens from other parts of the world. Some Chinese emigrants might even decide to return. CA

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Tao Jianbin

cnhubei.com

Some people think emigration is a basic right and a personal choice. Others see it as a patriotic betrayal. Both points of view are reasonable, but fail to reveal the fundamental reasons behind this trend.

Some say the rich are seeking better lives in low-inflation environments with good social security, while others think they are looking for better education systems for their children. Some even argue that the rich find Chinese society to be restrictive and feel unhappy living in the country.

The Chinese have special emotional bonds to the places where they are brought up, so why are they rushing off, leaving their hometowns and country behind? Leaving your place of birth seldom carries a certain promise of reward, but this seems to deter few in their pursuit of greener pastures. There are likely deeper reasons behind this emigration phenomenon. The departure of so many rich people points to problems in social equality, welfare and social security, education and asset security, etc., although other countries are facing similar challenges.

It cannot be denied that emigration is a legitimate right. However, the rich are leaving at a time when China is plagued by a yawning wealth gap, in part brought about by decades of reform. This raises crucial questions regarding rights and responsibilities. Chinese law does not force the rich to stay and help those who are still living in poverty. However, as the biggest beneficiaries of China's political, economic and social policies, they are expected to take on certain social responsibilities. Thanks to the "let some people get rich first" policy put forward by late Chinese leader Deng Xiaoping, these people are now very wealthy. However, many of them are preparing to emigrate. When they are gone, who will help China's poor? Of course, some rich people are involved in charitable work and set good examples of how to act in a socially responsible manner. Now it is time for China to act so that the rich have no motivation to leave in the first place.