01-February-2023
Corporate News
 
Entrepreneurs flee China's heavy hand: 'You don't have to stay there'
24-Jan-2023

They left after the government cracked down on the private sector. They ran away from a harsh “zero COVID” policy. They searched for safe havens for their wealth and their families. They went to Singapore; Dubai, United Arab Emirates; Malta; London; Tokyo; and New York — anywhere but their home country of China, where they felt that their assets and their personal safety were increasingly at the mercy of the authoritarian government. In 2022, a year that proved extremely challenging for China, many Chinese businesspeople moved abroad, temporarily or for good. They were part of a wave of emigration that led to one of the year’s top online catchphrases, “runxue,” understood to mean running away from China.

News Source:- https://economictimes.indiatimes.com/small-biz/entrepreneurship/entrepreneurs-flee-chinas-heavy-hand-you-dont-have-to-stay-there/articleshow/97240286.cms