China’s President Xi Jinping has worked hard since taking power in 2012 to help stop the corruption amongst Chinese government officials. Recently, China’s military prosecutors charged Ex-General Mr. Gu Junshan with embezzlement, bribery and other allegations of corruption. This marks the first time a military figure has been charged with corruption charges since President Xi took office. Some of the newfound wealth and power in China can be traced directly to corrupted officials and their family members enjoying extra benefits by being in a government role. These officials and families are the ones President Xi plans to investigate and charge with corruption to help clean up the country’s government of all levels. The central government is conducting a nationwide audit by sending executive auditors and inspectors. Hundreds of high level government officials have been removed from their posts as a result of such audits. Chinese business owners and high net worth individuals are worried about the direction the Communist Party is heading in the next couple years. Many individuals have created their wealth in grey areas of the law in China and might be worried about what the future will bring. With uncertainty in the Communist Party's direction, this makes visa programs to other western countries including the EB-5 program very attractive. Many Chinese families are heavily investing in Hong Kong, Singapore, and European countries where long term resident visas are offered through real estate investment program. To learn more about Chinese market conditions, join us in Florida on April 24.
