China's Wealthy Want Their Children Educated Abroad
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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.