China Commentary: Growth and Prosperity Attract Chinese Expats to Return Home

China Commentary: Growth and Prosperity Attract Chinese Expats to Return Home

The provincial capital Fuzhou, which administers coastal Fuqing, Changle and Lianjiang, has a centuries-old seafaring tradition.

Over the centuries, Fujian merchants sailed around the world with tea and porcelain. Impoverished fishermen braved perilous currents in rickety junks to settle the islands in Southeast Asia and beyond.

Many to the US, to start small businesses where they gained legal status, the exodus lasted until the early 2000’s.

The tide began to turn when their businesses in the United States experienced hardships amid the Y 2008 financial crisis, while China offered more business prospects and world-class living standards.

In Y 1988, the per capita annual GDP in Fujian was 1,349 RMB Yuan (USD193.00). In Y 2018, it was RMB Yuan 91,200 according to China’s National Bureau of Statistics.

Then the Chinese expats decided to return when they came across more skyscrapers, well-groomed trees and vegetation, and smartly dressed people.

More than 300 overseas Chinese have returned to Guantou from the US and decided not to go back, said Lin Zuxun, who is in charge of the association of the returned overseas Chinese in the town.

Statistics show that by the end of September, over 16,000 overseas Chinese had been granted permanent residence status in the city of Fuzhou since September 2013.

There are lots of Chinese expats returning going home to prosperity…

Have a terrific weekend

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

Latest posts by HEFFX Australia (see all)