China is experiencing a drain of wealth as entrepreneurs and their money are leaving for safer shores. Uncertainty caused by policy fluctuations is the main reason given for the exodus.
A major Chinese real estate developer of low-income apartment complexes is scrambling to get rid of a financial burden caused by a local government defaulting on housing contracts.
Many foreign and domestic firms in China are laying off their employees in an effort to cut costs amid a slowing economy, causing a wave of unemployment, according to recent Chinese media reports.
The number of Chinese purchasing property in Western countries and transferring their money out of China, both legally and illegally, has been significantly increasing since 2011.