China Tightens Control on Overseas Investment, Sets New Rules to Restrict Emigration

Since the Chinese Communist Party cracked down on Chinese stocks, the capital fleeing China has accelerated. This photo shows a bank teller counting stacks of US dollars and Chinese 100-yuan notes at a bank in Hefei, Anhui Province, China. STR/AFP/Getty Images

While the Chinese communist regime’s zero-COVID policy has accelerated the recession of China’s economy, the hardships caused by the strict COVID-19 pandemic control measures has driven wealthy Chinese citizens’ interest in emigrating to the United States, Canada, and Europe.

In response, the Chinese Communist Party (CCP) recently put out new regulations to tighten its control over investment emigration through notarization. Experts believe this move is intended to make it more difficult for wealthy Chinese citizens to move to foreign countries through investment immigration, preventing capital from leaving China.