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

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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