China’s millionaires eye the exit as economic storm clouds gather

Some 15,200 Chinese millionaires were expected to relocate in 2024, according to Henley & Partners.

Taipei, Taiwan – Five years ago, Jane Meng travelled from her home in Shanghai to Hong Kong to get herself something special for her birthday.

The 31-year-old wealthy owner of an import-export company was not looking for a watch or a designer handbag.

Instead, she came for critical illness insurance.

“I didn’t have faith in the Chinese healthcare system and insurance market being able to provide the care and insurance that I might need later in life,” Meng, who asked not to be referred to by her real name, told Al Jazeera.

“So, I decided to go and open up a bank account in Hong Kong and get the insurance there instead.”