|As the U.S. economy recovers, China’s rich elite are pouring into the San Francisco Bay Area
· 60 percent of China’s wealthy elite have already or are planning to immigrate to other countries. California is their No.1 destination. *
· In 2012, over $12.3 billion of U.S. real estate was bought by Chinese. **
· In 2013, $1.5 trillion of capital flew out of China, and 9 percent came to the Bay Area. ***
· In the first quarter of 2014, China spent $6 billion buying U.S. high-tech companies. **
* Bank of China, ** Forbes, *** Voice of America
Under the pounding tidal waves of incoming money, wealth distribution is
reshuffled, and we are facing new opportunities and challenges.