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China Will Lose the Most Millionaires of Any Country This Year: Report
China is expected to see the biggest net loss of millionaires globally this year as its economy continues to contract, a new report suggests. The country will lose 13,500 high-net-worth individuals (HNWI) with investable wealth exceeding $1 million in 2023, according to the report compiled by Henley & Partners released Tuesday. The country expected to see the second most departures of HNWIs was India, with an anticipated exodus of 6,500, followed by the U.K. in third with 3,200. President Xi Jinping’s recent “common prosperity” crackdowns may be the motivation behind the expatriation of entrepreneurs in ... (full story)