Education

80% of China's wealthy want kids to study abroad: survey

Updated: 2014-11-26
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Read more on: china's rich   overseas study   Hurun Report  
   
One thing that even China’s wealthiest can’t buy domestically: an Ivy League education. Today a majority of China’s rich—defined at those with net assets exceeding 10 million yuan ($1.6 million)—are sending their children to high school or college abroad or making plans to do so.

A survey by Huron Report, which tracks the spending habits of China’s well-heeled, found that 80 percent of China’s rich have plans to send their children to study overseas. That compares with less than 10 percent of wealthy Germans and less than 1 percent of wealthy Japanese, according to Xinhua newswire.

For Chinese high school students, the U.K. is the top pick. For undergraduate and graduate studies, the U.S. is the biggest draw. Other popular destinations include Australia, Canada, and New Zealand, as well as Singapore, Switzerland, France, and Germany.

While many children of China’s elite are courteous and dedicated students abroad, with ambitions to become engineers or environmentalists or to fill other roles their country needs, a few bad apples make the headlines.

Last Thursday, Yichun Xu, a 21-year-old former student at South Puget Sound Community College in Washington State was deported back to China after he pled guilty to vehicular homicide and three counts of reckless endangerment. In 2012, he bought a Mercedes-Benz C300 with cash and drove 70 miles per hour down residential streets in Des Moines, Iowa. His car slammed into another vehicle, killing the driver and injuring three passengers.

His case attracted outraged attention in China after Xu’s parents paid his bail with a $2 million cashier’s check. (“Rarely is a bail of that amount posted,” an astonished prosecutor told the Seattle Times.) On Weibo, China’s microbloggers decried the reckless attitudes and apparent invincibility of the extremely rich: “Look how capable this family is. Killed an American and still got free on bail,” one sarcastic commenter named Jiu Jiu wrote at the time.
 
SOURCE: businessweek.com
   
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Comments Area ( Total Comments: 1 )
TheHumanFly commented on 28 Nov 2014
Such lack of faith in your countries education system. Such lack of faith in your country. Such lack of patriotism for your motherland. Come back home all educated from the foreign land....to what?
  

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