Due to a weakening domestic economy and declining Yuan value, mainland Chinese citizens are increasingly setting up bank accounts in Hong Kong to seek better interest rates and invest in financial products as a hedge.
Following new foreign exchange restrictions by the Chinese Communist Party (CCP), individuals have engaged in “ant migration,” which involves bypassing official channels through various methods, including informal money exchanges, to funnel money into Hong Kong. Insiders reveal that these unofficial channels often have tacit approval from high-ranking CCP officials.
