(CBN Global) April 5 -- Some 9,000 of China's 654,000 millionaires emigrated last year. And an additional 30,000 people became millionaires in the nation in 2015, showing that the Chinese government has no cause for concern as the strong economy continues to generate many new millionaires.
China came second only to France in terms of countries with the highest rates of millionaire migration, according to the Millionaire Migration in 2015 report published by wealth research institution, New World Wealth. Some 10,000 millionaires emigrated from France last year.
As living standards have improved in mainland China, a large proportion of Chinese emigrants have obtained citizenship overseas but still live in China.
China is the second largest source of immigrants with permanent residency in the US and is the largest source of immigrants to Australia in all categories except that of highly skilled immigrants, according to a 2015 report released by the Center for China and Globalization.