An overwhelming majority of China’s richest people are likely to send their children abroad for education, the United States and the United Kingdom being their first choices, according to a Hurun Report on education.
A Chinese student at the 2014 International Education Exhibition in Beijing on October 25, 2014. [Photo/IC]
The report said that some 80 percent of the country’s rich people have plans to send children abroad, the highest ratio in the world. By contrast, Japan has less than 1 percent and Germany has less than 10 percent of its rich people having such plans, said the report.
The rich people are most likely to send their children to the United States and the United Kingdom while other countries such as Australia, Canada, Switzerland, New Zealand, Singapore, France and Germany attract most of the rest.
The report also found that the students tend to get younger. The average age of the millionaires’ children is 16 years old when they were sent abroad.
Rupert Hoogewerf, publisher of the report, said ten years ago, Chinese rich people could only send their children to Canada and Australia because large number of Chinese people there. “Now, the Chinese rich people have a much broader social network, as a result of which they can find trusted people anywhere in the world and can rest assured sending children to any country.”
“Long time overseas study of these students can definitely do good to the globalization of China’s economy,” said Rupert.