China is facing the world's biggest exodus of millionaires and growing capital outflows. Yet at least one group is bucking the trend -- the growing number of ultrawealthy Chinese youth who are returning to the mainland.

Rising geopolitical tensions, and the perception of increasing hostility abroad toward Chinese nationals, have led children of some of China's richest people to eschew what used to be coveted overseas jobs and foreign citizenship, and recalibrate to a life at home where the mantra is “stay humble, stay quiet." Bloomberg's K. Oanh Ha and Selina Xu explain how we got here, and how it will affect US-China relations.

Read more: China’s Ultra-Rich Gen Zs Flock Home as Global Tensions Rise

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK

Have questions or comments for the team? Reach us at bigtake@bloomberg.net.

China is facing the world's biggest exodus of millionaires and growing capital outflows. Yet at least one group is bucking the trend -- the growing number of ultrawealthy Chinese youth who are returning to the mainland. Rising geopolitical tensions, and the perception of increasing hostility abroad toward Chinese nationals, have led children of some of China's richest people to eschew what used to be coveted overseas jobs and foreign citizenship, and recalibrate to a life at home where the mantra is “stay humble, stay quiet." Bloomberg's <a href="https://www.bloomberg.com/authors/AQMnNNY2hgQ/k-oanh-ha">K. Oanh Ha</a> and <a href="https://www.bloomberg.com/authors/AVRW4viFbzA/selina-xu">Selina Xu</a> explain how we got here, and how it will affect US-China relations. Read more: <a href="https://www.bloomberg.com/news/articles/2023-09-21/-china-is-rising-ultra-rich-gen-zs-flock-home-as-us-china-tensions-grow" data-destination="https://www.bloomberg.com/news/articles/2023-09-21/-china-is-rising-ultra-rich-gen-zs-flock-home-as-us-china-tensions-grow">China’s Ultra-Rich Gen Zs Flock Home as Global Tensions Rise</a> Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: <a href="https://bloom.bg/3F3EJAK" data-destination="rte:bind">https://bloom.bg/3F3EJAK</a>  Have questions or comments for the team? Reach us at <a href="mailto:bigtake@bloomberg.net" data-destination="mailto:rte:bind">bigtake@bloomberg.net</a>.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

Why China's Richest Gen-Zs Are Flocking Home

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/5ca2c433-a9b7-44ca-89f1-b0d600742263/transcript

Advertisement